$HLIX: NEWS... 90% increase in Annual Revenues
Helix TCS, Inc. Announces Record Revenues for 2017Font size: A | A | A
9:00 AM ET 4/2/18 | GlobeNewswire
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Helix TCS, Inc. Announces Record Revenues for 2017
GREENWOOD VILLAGE, CO , April 02, 2018 (GLOBE NEWSWIRE) -- Helix TCS, Inc. (OTCQB: HLIX), the leading provider of integrated operating environment solutions for the legal cannabis industry, announced its 2017 financial results today.
For the fiscal year ending December 31, 2017, Helix generated revenues of $4,029,800, representing 90% growth over 2016 revenues of $2,121,600. Gross profit increased from $286,444 in 2016 to $1,152,776 in 2017, representing an increase in gross margin from 13.5% to 28.6%, respectively.
"In 2017, our second full year of operations, Helix continued to deliver on our strategic plan. Our revenue growth is greater than the industry's expansion rate, reflecting the reality of our significant and growing market share. Further, nearly doubling our revenue while more than doubling our gross margin is a clear indication of the quality of our operators and the robust nature of our business model." stated Helix CEO, Zachary L. Venegas. "Driving organic growth as well as completing the acquisition and integration of Security Grade Protective Services last year demonstrates that we have the internal capabilities to execute our strategy and continue to build real value for clients, employees, and shareholders." Our ability to offer an integrated operating solution to our clients will only continue to increase as we add services and expand into new states and countries in 2018."
Helix's CFO, Scott Ogur, CFA added, "We closed the Security Grade acquisition in early June and worked diligently on the seamless integration of its operations into the existing Helix security platform, which added significantly to Helix's revenue growth and gross margin expansion."
About Helix TCS
Helix TCS, Inc. (OTCQB: HLIX) is a premier provider of integrated operating environment solutions for the legal cannabis industry. Helix provides a proprietary software suite and partnership platform to the legal cannabis industry, helping clients manage inventory and supply costs and bespoke monitoring and transport solutions. Helix provides clients in the legal cannabis industry high standard security operations, including transportation, armed and unarmed guarding, training, investigation, and special services.
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Contact:
Scott Ogur
720-328-5372
ir@helixtcs.com
> Dow Jones Newswires
April 02, 2018 09:00 ET (13:00 GMT)
