Leading CBD Provider Reports 255% Revenue Growth -- CFN Media

SEATTLE, WA--(Marketwired - Nov 27, 2017) - CFN Media Group, the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing why Medical Marijuana Inc. (OTC PINK: MJNA) represents a compelling opportunity in the cannabis space with strong growth during the third quarter and diversified operations across many geographies and subsets of the industry.

The cannabis industry is one of the most attractive areas of the market following the legalization of medical and recreational marijuana throughout a large part of North America. In the U.S., 44 states and three territories have passed cannabis laws to some degree and recreational cannabis has been legalized in eight states including the District of Columbia. Analysts expect North American cannabidiol (CBD) sales will surpass $1 billion by 2020.

Strong Growth in Revenue & Profitability

Medical Marijuana Inc. reported third quarter gross revenue that increased 255% to $7,783,297. While the company didn't break down its revenue, management cited investments in subsidiaries and continued international expansion and product development as key drivers of the growth. HempMeds®, in particular, has continued to see strong demand from international markets like Mexico and Brazil where its products can be imported for medical use.

On the bottom line, the company's gross profit increased 297% to $5,034,464, suggesting some margin expansion during the quarter. Management reported that its net loss narrowed by 30% to $2,959,173 as it moves closer to a breakeven point on a net income basis. When accounting for notes receivable, inventories, and other factors, the company reported just over $1 million in net cash used in operations, which may be a more accurate portrayal of profitability.

"We are excited to announce such outstanding leaps in growth and success this quarter," said Medical Marijuana, Inc. CEO Dr. Stuart Titus in a press release. "We believe that with these record-breaking revenue numbers, we have the capacity to make 2018 the most profitable year the company has ever seen. We are currently spending on international expansion and research efforts which should pay long-term dividends for shareholders."