Cannabis Strategic Ventures (OTCMKTS:NUGS) reported over $2.7 million in quarterly sales and around $11 million in annualized sales. This is according to the company’s new projections for calendar Q2 sales data released recently. The results are based on the company’s performance in April and May.
Simon Yu, CEO of Cannabis Strategic Ventures, says the company is in a better place to drive significant organic growth. Several factors drive the company’s sales figure, including volume, capacity and pricing, and a thriving cannabis market in California.
Cannabis Strategy’s sales volumes have grown by 2.5X. This has enabled the company to improve its market standing and improved its pricing by selling at 11% above industry standards. This was achieved thanks to the company’s strategy to continually improve its products. Cannabis Strategic has also recorded improved sales volumes on a week-over-week, month-over-month, and quarter-over-quarter basis.
Cannabis Strategic’s strategic plan to grow sales
The company set a new sales record in April with over 870K in total sales of cannabis products. Sales figures for May amounted to $929K, with June figures expected to maintain an upward trajectory. Yu said the strong sales figure are partly driven by operational decisions that the company has put in place in recent months. This include overhaul operations at the farm and expansion of production capacity.
Improving product quality and production capacity
Cannabis Strategic announced plans to improve the quality and quantity for cannabis produced at NUGS Farm. The company is undertaking improvements in its product quality and production capacity. To further drive growth, the company has been streamlining stage in its cultivation operations. The company currently has eight cannabis strains at its farm among them.
- Trifi Cookie
- Wedding Crashers
- Wedding Cake
- Purple Punch
- Super Glue
- Ice Cream Cake
- Sunday Driver
- Heavy OG
The company is currently selecting four top strains to be sustained for long term production. Reducing the number of strains will help limit variability and increase efficiency and profitability. The selection of the four strains will be based on pricing standards, year-round harvest productivity, and integrated biological fitness.