Can B Corp. Reports Growth of 51% to $2.9 Million Revenue for Third Quarter 2022, the Highest Quarterly Revenue in Company History
HICKSVILLE, NY, Nov. 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, today announced the Company's financial results for the third quarter and nine months ended September 30, 2022.
- We generated $2.9 million in quarterly revenue while reducing our cash burn as demonstrated by the 25% decrease in Adjusted EBITDA.
- It is great to see all the challenging work pay off and result in accelerating revenue growth and a reduction in cash losses.
- With our proven manufacturing and distribution capabilities, we are now executing major strategic agreements, such as the recently announced deal with Brooke Burke.
- Can B is now a full-service hemp-derived cannabinoid company that can facilitate servicing large box retailers, boutique vape and smoke stores, and strategic partners.