It’s hard to imagine thinking you’re just at the beginning of a growth cycle when you’ve just had the kind of revenue growth cannabis company Isodiol had.
The company said this week it reported audited revenue of $19.1 million for the fiscal year ended March 31. That’s a 5,276 percent increase over the previous year’s revenue of $355,959.
“Although the Company experienced tremendous growth for its Fiscal Year 2018, we strongly believe that CBD is still in its infancy stage, and we are just beginning to understand its benefits for the human body,” Isodiol CEO Marcos Agramont said in a press release. “Isodiol has made significant strategic acquisitions over the last 12 months that are just now beginning to bear fruit, and the company is well positioned as a global leader in the manufacturing, distribution, and full commercialization of hemp-derived CBD products.”
Isodiol said it believes it has a strong balance sheet with more than $24 million in cash and acquisition deposits, which are intended to facilitate continued growth throughout Fiscal Year 2019. With continued broadening of hemp and CBD legalization around the world, the company has been expanding its sales force intending to capitalize on that wider acceptance.
Among the company’s products is Pot-O-Coffee, two variants of cannabis-infused coffee, one with THC, one without it, having only non-psychotropic cannabidiol, or CBD, from hemp oil.
Other divisions include Canadian National Pharma Group; the custom water bottling unit Azure; research unit C3 Global Biosciences; telehealth company Livecare Healthcare; coffee and tea business Culinary; and e-cigarette liquid and hemp oil company Bradleys Biosciences, among others.
The company also recently entered a partnership with non-profit Imperial Valley Conservation Research Center to plant a commercial 60-acre hemp crop in California.
“These acquisitions have positioned the Company to be in a unique position within the industry to continue to be a global leader and innovator of CBD pharmaceuticals and consumer products,” Isodiol said in its press release.