Dipo Olowookere
By Dipo Olowookere
Leading provider of integrated operating environment solutions for the legal cannabis industry, Helix TCS Incorporated, has announced its first quarter 2018 financial results.
According to the financial statements released today, the firm generated revenues of $1,128,338, in the first quarter of this year.
This represents 63 percent growth over first quarter 2017 revenues of $691,737.
It was observed that the gross profit increased from $81,534 in Q1 2017 to $337,633 in Q1 2018, representing an increase in gross margin from 11.8 percent to 29.9 percent respectively.
Commenting on the results, CEO of Helix, Zachary Venegas, stated that, “Our strong revenue growth is the result of driving our organic revenues as well as executing on our acquisition and integration strategy.”
Venegas added that, “The 153% gross margin increase stems from our focus on operational excellence, continuous improvement, and growth in higher margin business lines.”
Continuing, Venegas disclosed that, “We anticipate that with our signed pipeline of new revenue we should continue to deliver industry leading results to clients, investors, and employees as we explore new geographies and services both in the U.S. and internationally.”
