Abacus Health Products Inc. (fka ABCS)

[CBD_]

https://www.newswire.ca/news-releases/abacus-health-products-announces-full-year-2018-results-821045868.html

Revenue of Abacus U.S. for the full year 2018 was $8.5 million, an increase of 232% over the same 12-month period in 2017.

CBDMEDIC™, sold to consumers via retail chains and its e-commerce platform, launched towards the end of 2018 and added new advanced skincare and treatment products to the line in 2019.

First CBDMEDIC™ purchase order from a major U.S. retail chain was announced in February 2019 with new purchase orders received in April 2019.

Revenue of Abacus U.S. for the fourth quarter 2018 was $2.9 million representing sequential growth of 43% over the prior quarter.

Gross profit of Abacus U.S. for the year ended December 31, 2018 was approximately $5.1 million representing a gross margin of 59.2%, an increase from 51.5% for the year ended 2017.