CB2 Insights Announces Unaudited Profitability in April

CB2 Insights, announced on Thursday that it has achieved its target of reaching profitability. On an unaudited basis, the Company has seen positive EBITDA for April 2020 and continues to work hard to prioritize achieving sustainable profitability moving forward amidst the ever-evolving COVID-19 pandemic. CB2 Insights is recognized as having the largest cannabis patient registry in the US, owning and operating the largest collection of medical cannabis evaluation centers in the US. The company’s clinical operations span 13 states, managing nearly 100,000 patients annually. With millions of clinically-validated data points collected through its own clinic network, CB2 produces research and insights to drive Real-World Evidence specific to the safety and efficacy of medical cannabis treatment. CB2 has seen a growth of 25% in patient visits during the month of April compared to the same period in the prior year. Total patient visits in April 2020 were 6,756 for the month compared to 5,366 in April 2019. The Company continues to see accelerated growth in patient volume driven through national brand exposure (30+ corporate-owned clinic locations in 12 states across the US), competitive marketing and patient acquisition strategies as well as effective patient retention programs. Additionally, CB2 expects to see further growth as a result of recent laws in the US allowing for telemedicine to be utilized for medical cannabis certifications across all the states in which it operates.

Click here to read the full release.