Cannabidiol brand cbdMD Inc. YCBD anticipates generating between $41.7 million and $41.8 million in net sales revenue in the fourth quarter of this fiscal year.
That’s at least a 76% year-over-year increase in revenue, the company says.
In addition, cbdMD disclosed its sales revenue for the last three months of 2020 would range between $11.5 and $11.7 million, versus $9.54 million in the same period last year.
“CbdMD continues to generate outstanding sales growth while reaffirming its commitment to reaching positive adjusted operating income during calendar 2020,” chairman and co-CEO Martin Sumichrast said.
The company “has been a brand leader in marketing, product innovation, and customer service, and we expect to continue to gain more market share and achieve additional growth into 2021,” he added.
Last month, the Charlotte, North Carolina-based company inked a multi-year retail distribution deal with Life Time Inc. (LT), a health club chain.
As per the agreement, Life Time opted to distribute cbdMD's cannabidiol products within its physical locations and online.
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