Cannabis Cultivator Stability Growth Announces $1 Million Revenue Milestone
Jul 24, 2019, 18:35 ET
OKLAHOMA CITY, July 24, 2019 /PRNewswire/ -- Stability Growth announces it has surpassed one million dollars in revenue just 6 months from launch.
"Today marks an impressive milestone, one made more dramatic considering our first sale occurred in February 2019. Today, just over 5 months after our first transaction, Stability Growth has exceeded $1 million in cumulative revenue!" said chief executive officer Denver Kitch.
Chief operating officer David Lewis added, "Stability has joined the elite group of startup businesses which exceed $1 million in revenue within 160 days of going to market. We are proud of the hard work of our employees and the enthusiasm of our rapidly expanding customer base."
Kitch added, "On our current growth trajectory, we anticipate exceeding the $4 million cumulative revenue mark by the first anniversary of our inaugural sale."
Stability Growth reports that demand for their exclusive nitrogen packaged cannabis flower is a leading driver of growth, as well as growing demand in their processed products line. Stability Growth provides white-label packaged cannabis for dispensaries, a line of house brand nitrogen packaged cannabis flower, wholesale "deli-style" cannabis flower as well as processed items including "no shake" pre-rolls, solvent-less rosin and other medical marijuana wholesale products.
Key Metrics
Although a privately held company, Stability Growth makes public certain performance indicators.
- Average transaction size of $1,200 per sale
- Average customer spend of $2,976 per month
- 12 independent crop cycles in production continuously with state-of-the-art lighting and environmental controls
- Approximately 60% of sales driven by flower sales, with 40% in processed products
About Stability Growth
State Question 788 legalized medical marijuana cultivation and sales in Oklahoma. Oklahoma City based Stability Growth operates one of the largest indoor cannabis cultivation and processing facilities in America and is the largest cultivator in Oklahoma as measured by production capacity.
SOURCE Stability Growth
