HempFusion Wellness reports 268% increase in year-over-year direct-to-consumer e-commerce revenue

HempFusion Wellness Inc, a CBD company utilizing the power of whole-food hemp nutrition released its 2Q 2021 financial results featuring significant growth in some key areas.  The second quarter of the year saw a 25% increase in revenue, at over $1.2 million compared to $983,496 in Q1 2021. The revenue boost was also 84% higher than 2Q 2020’s $670,728.  The specialty hemp company also noted the three-month period saw direct-to-consumer e- commerce sales climb 37% to $334,322 from $244,255 in 1Q.  READ: HempFusion Wellness announces launch of highly anticipated CBD Gummy line Additionally, the firm’s website-based sales were up 54% and DTC including Amazon, Walmart and Tmall increased 23% sequentially. “With year-over-year growth in net revenues of 84%, year-over-year direct to consumer e-commerce revenues up 268%, and our leading regulatory preparedness, HempFusion’s momentum shows it to be the right company, at the right time, to lead this new category into the future,” Dr Jason Mitchell, CEO of HempFusion said in the statement.   He continued: “Additionally, subsequent to the quarter-end, the company closed on two accretive acquisitions and highly respected CBD brands, adding significant new distribution points and products.”  Other highlights included a 22% quarter-over-quarter rise in B2B net revenue and a 55% increase year-over-year. There was also a return in international sales following coronavirus (COVID-19), which grew 68% to $203,296 compared to $75,994 during the first quarter of the year.  HempFusion also launched a Private Label division during the period. The division was “immediately awarded a 10-product private label contract with a top publicly traded national grocery retailer,” said the company. “We believe this division could represent multi-million dollars in revenue within the next few years for both CBD and non-CBD products.” The hemp-focused company credits the revenue growth to its strong business plan, which saw the firm launch new products and a new division, including Private Label and Probulin. The acquisitions of Sagely Enterprises Inc (Sagely Naturals) and APCNA Holdings LLC (Apothecanna) were cited as contributors to growth, helping HempFusion expand its distribution footprint to over 15,000 locations.   The second quarter also saw HempFusion make significant partnerships. “In May 2021, HempFusion announced an exclusive partnership with two-time Olympic gold medalist and five-time world champion, Kaillie Humphries,” read the statement. “HempFusion CBD and Probulin Probiotics will be Kaillie’s exclusive sponsors in their respective categories through February’s Olympic Games in Beijing 2022 where she is the front-runner for gold for Team USA in both the Two-woman Bobsled and the newly introduced Women’s Monobob.” At the end of 2Q, HempFusion stated it was in a strong cash position ending the quarter at $11.4 million. Contact the writer at georgia@proactiveinvestors.com Follow her on Twitter @MissInformd