Highlights of the second quarter and first half of 2019 include:
Q2 2019 revenue of $3.9MM, an increase of 108% compared to the same quarter last year
Gross profit for the quarter was $1.9 million, a 49% gross margin
Cash flows from operations improved in Q2 by $462,000, or 39%, compared to Q1
1H 2019 revenue of $7.27MM, a 142% increase compared to 1H 2018, and on pace to materially surpass FY 2018 revenue of $9.56MM
Added nearly 500 new licensed customers via software subsidiary, BioTrackTHC
Acquired California-based security business for expansion of service offering
Expanded international footprint to Europe with customers in the United Kingdom
Announced agreement to acquire Amercanex International Exchange
Ranked as the #1 revenue-generating company within the cannabis point of sale category
Awarded the Maine government cannabis traceability contract, which plans to expand into an adult-use market in 2019
Awarded the New Hampshire government cannabis technology contract
Current government contracts now total 10: Illinois, New York, Puerto Rico, New Mexico, Hawaii, Arkansas, North Dakota, Delaware, Maine, and New Hampshire
Received a 2-year extension for the Hawaii government traceability contract
Received a 2-year extension for the Delaware government traceability contract
Deployed the North Dakota Traceability program on-time and without interruption
Expanded the Illinois Traceability Contract to incorporate the Opioid Alternative Pilot Program
Received an award from the National Cannabis Industry Association (NCIA) for Excellence in Innovation
