Denver, Colorado--(Newsfile Corp. - December 2, 2021) - CBD of Denver, Inc. (OTC Pink: CBDD), a cultivator and distributor of CBD and cannabis flower and a producer of a full line of CBD oil and unique products sold in Switzerland and throughout Europe, filed its third quarter financial statements on OTCMarkets.com for the period ended September 30, 2021.
CBD of Denver generated $20.9 million revenue in the first nine months of 2021, up 300% year-over-year compared to $6.0 million in the first nine months of 2020. Gross profit in the first nine months of 2021 was $1.1 million, compared to gross profit of $0.5 million in the same period of 2020.
Q3 Business Highlights:
- Customer base increased to over 800 customers across Europe, including more than 450 recurring customers, as of the end of the third quarter of 2021
- Delivering products into 12 countries across Europe as of the end of the third quarter of 2021
"We are very pleased to report strong year-over-year revenue growth in the first nine months of 2021, and importantly, year-to-date, we have already surpassed our 2021 revenue guidance of $22 million (USD)," commented Marcel Gamma, CEO. "The Company remains focused on continued growth while simultaneously moving forward on the completion of its GAAP audit required to become a fully reporting issuer with the SEC, which will enable the Company to move beyond the OTC Pink Market where it can provide investors with improved transparency and increased liquidity."
A key driver of the Company's year-to-date performance has been its Rockflowr brand. CBD of Denver has successfully completed a rebranding Rockflowr, GmbH to Rockflowr Exchange and Rockflowr Production as it works to become the top European player in the space.
CBD of Denver, Inc., Rockflowr GmbH and Swiss Industry Ventures AG are now also on LinkedIn.
About CBD of Denver, Inc.
CBD of Denver, Inc. (OTC Pink: CBDD) a full-line Cultivator, Distributor of CBD and Cannabis flower and a producer of a full line of CBD oil and unique products sold in Switzerland and throughout Europe. CBD of Denver, Inc. is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders and is driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis. Through our Rockflowr brands we have built a very strong European customer base by focusing on top quality products and meaningful customer relationships.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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