DENVER – CBD of Denver, Inc., a full-line CBD and hemp oil company and a producer and distributor of cannabis and CBD products in Switzerland, Europe, and the US, reported its financial results for the first quarter ended March 31, 2021.
CBDD generated revenue of USD $7.31 million in the first quarter, nearly 50% of its full year 2020 revenue of $16 million, demonstrating continued strong quarterly growth despite the fact there is still a full or at least partial lockdown for Switzerland and most of the European countries.
“This is a tremendous job done by our Managing Director of Sales, Pascal Siegenthaler, together with his sales team, achieving great results in such a difficult time,” said CEO Marcel Gamma. “We continued to generate substantial top-line and bottom-line growth in the first quarter while making the necessary capital investments to further develop our retail and direct-to-consumer businesses, expand our client base, and increase distribution of our products.”
Rockflowr Exchange added two new account managers to its sales team in the first quarter that are exclusively focused on expanding the Company’s client base in Europe.
Siegenthaler added, “One of our key targets in 2021 is to further strengthen the market penetration of Rockflowr, and we are continuing to take clear actions to achieve our targets as we execute on our B2B strategy. Based on our first quarter successes, we are well on the way.”
(This information is primarily sourced from CBD Denver. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here)