Welcome to our dedicated page for CLS HOLDINGS USA news (Ticker: CLSH), a resource for investors and traders seeking the latest updates and insights on CLS HOLDINGS USA stock.
CLS Holdings USA, Inc. focuses on the extraction and conversion of cannabinoids in the United States. The company extracts various cannabinoids from cannabis plants and converts them into concentrates, including oils, waxes, edibles, and shatters. These concentrates find applications in vaporization for electronic cigarettes, pharmaceuticals, and other purposes. Additionally, the company offers consulting services to cannabis-related businesses such as growers, dispensaries, and laboratories. Established in 2014 and headquartered in Miami, Florida, CLS Holdings USA, Inc. operates as Cannabis Life Sciences.
CLS Holdings USA, Inc. is a diversified cannabis company that comprises integrated cannabis producer and retailer segments through its Oasis Dispensary and City Trees subsidiaries operating in Nevada, with plans for expansion into other states. The company, known as CLS, stands for "Cannabis Life Sciences," which reflects its cutting-edge scientific methodology for extracting cannabinoids from the cannabis plant, resulting in products of superior quality and consistency. Its business model encompasses licensing operations, processing operations, processing facilities, product sales, brand development, and consulting services.
CLS Holdings USA (OTCQB:CLSH) announced strong financial results for January and February 2022, despite a decline in the overall Nevada retail cannabis market. Key highlights include:
- City Trees' retail sales hit $1.05 million in January 2022, a 195.5% increase year-over-year.
- February net revenue reached $1.98 million, up 32% YOY and 72% from 2020.
- Gross profit margins exceeded 50%, with City Trees at 57% in February.
- City Trees maintained the #1 tincture brand position in Nevada.
CLS plans its first quarterly investor call in April.
CLS Holdings USA, Inc. (OTCQB: CLSH) announced January 2022 results with net revenues of $1.75 million and a 55% gross margin, continuing their target above 50%. The company recorded an 18% year-over-year revenue growth, with its City Trees brand experiencing a remarkable 127% increase compared to last year and 191% from 2020. City Trees is recognized as the top-selling tincture brand in Nevada. The company signed two significant manufacturing agreements in January to produce concentrates for established and upcoming brands.
CLS Holdings USA announced a strong performance in 2021, achieving over $20 million in net revenue, reflecting a 44% year-over-year increase. The company entered two key joint ventures expected to significantly enhance revenue, including a pre-roll venture and a partnership with the Fort McDermitt Paiute and Shoshone Tribe for flower cultivation. City Trees, CLS's primary brand, captured a 6.5% market share in Nevada's cannabis market, with gross margins exceeding 50%. Looking ahead, CLS anticipates continued revenue growth and increased EBITDA for 2022.
CLS Holdings USA, Inc. (CLSH) reported its Q2 fiscal 2022 results ending November 30, 2021, showing a 10% revenue growth year-over-year, with City Trees achieving a remarkable 55% increase in revenue. The company maintains a gross profit margin exceeding 50% and reported an average customer spend of over $55 at Oasis Cannabis. However, the legal cannabis market in Nevada has declined, affecting Oasis with a 3.8% revenue drop. City Trees, recognized as the top-selling brand in several categories, continues to perform robustly despite market challenges.
CLS Holdings USA, Inc. (OTCQB:CLSH) announced that its division, City Trees, won two prestigious awards at the 2021 High Times Cannabis Cup: People's Choice Edition. The products recognized include the Apricot Crumble Sativa Live Resin Sauce and the Apricot Crumble Sativa Live Resin Vape. These wins highlight City Trees' commitment to quality and innovation in cannabis production. In addition to these awards, City Trees achieved several milestones, including being named the top-performing brand in Nevada and selling over $1 million in cartridges within 90 days.
CLS Holdings USA, Inc. (OTCQB:CLSH) reported strong financial results for November 2021, achieving net revenues of $1.8M and a record gross margin of 56%. This marks a 20% increase year-over-year and a 66% rise from 2019. The wholesale branded division, City Trees, saw a 91% growth in year-over-year revenue and a 132% increase from 2019, solidifying its status as a market leader. Additionally, Oasis Cannabis averaged $54 per order and City Trees became the top tincture brand in Nevada. The company plans to transition to quarterly reporting in January 2022.
CLS Holdings USA, Inc. (OTCQB:CLSH) has appointed Dani Baranowski as the new Brand Manager for its City Trees product division. Baranowski, an experienced advocate in the cannabis industry, expressed excitement about her new role, highlighting her commitment to the brand. Company President Andrew Glashow acknowledged her significant impact in the cannabis community and confidence in her ability to drive the company's vision. The press release also emphasizes CLS's diversified cannabis operations and plans for expansion beyond Nevada.
CLS Holdings USA (CLSH) reported its financial results for October 2021, achieving $1.9 million in net revenues with a gross margin of 46%. The company experienced an 8% year-over-year growth and a significant 87% increase from 2019. City Trees, its wholesale division, posted a 34% growth year-over-year. The retail division, Oasis Cannabis, maintained a strong average order size of $57. City Trees ranked as the top tincture brand and the number two selling concentrate brand in Nevada as per BDS Analytics.
The company plans to transition to quarterly reporting in February 2022.
CLS Holdings USA, Inc. (CLSH) has entered into an exclusive toll processing and distribution agreement with Sauced for their live resin concentrate line in Nevada. This move highlights City Trees, a subsidiary of CLS, as a leading manufacturer in the cannabis sector. The partnership signifies a landmark in the company's growth trajectory, allowing them to utilize their advanced facilities and expanded output capacity. Production of Sauced's live resin concentrate is expected to begin by the end of the year, marking a pivotal step for CLS in solidifying its market position.
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