True Leaf Medicine International Ltd. has announced its best sales quarter ever.
The revenues were generated from global sales of the company’s legal hemp-based True Leaf Pet products. Sales of the products totalled $572,071, making it the company’s second record-setting quarter in a row.
Related: True Leaf continues to grow
Related: True Leaf reports record quarter
True Leaf also announced that for the first time, it has achieved sales of more than $1,000,000 over two quarters. Revenue for the six months ended Sept. 30 was $1,063,405 — the company’s highest six-month revenue to date and an increase of 42 per cent from the comparable period in the prior year, which had revenue of $747,846.
“Our growing revenues and the continued success of the True Hemp product line is evidence that pet owners want access to safe, effective, and legally-compliant therapeutic cannabis products for their pets,” said Darcy Bomford, Founder and Chief Executive Officer of True Leaf. “We are committed to being the cannabis-for-pets leader in the global pet care industry — a sector expected to grow to $202.6 billion (USD) by 2025 — by continuing to enter new markets and expanding our product line.”
True Leaf’s European operations contributed $177,734 of total revenue for this six-month period, an increase of 86 per cent over $95,727 for the same period in the prior year.
Revenue growth was primarily fueled by the Company’s investment in its international sales team which has expanded the commercial reach of its True Leaf Pet division into new markets. The Company’s True Hemp product line is now sold in more than 2,800 stores worldwide, including Pets Supplies Plus (USA), PetSmart Canada, and Pets Corner UK.
Related: True Leaf Campus completion set for fall
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