Delta 9 Cannabis Inc said it has been placed seventh on The Globe and Mail’s 2021 Report on Business ranking of Canada’s Top Growing Companies, which is based on revenue growth over the past three years.
Delta 9 noted it earned its spot with a three-year revenue growth of 5,413%.
“We are very proud of Delta 9’s financial performance, with record 2020 top line revenue growth, up 64% year-over-year,” Delta 9 Cannabis CEO John Arbuthnot said in a statement.
READ: Delta 9 continues retail expansion with sixteenth cannabis retail store
“We have continued this growth into Q2, 2021 revenue up 27% sequentially from first quarter and our seventh consecutive quarter of positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization),” Arbuthnot added.
The Globe and Mail ranking compared Delta 9’s annual revenue in 2020 ($52,047,053) with base-year revenue in 2017 ($944,114).
The company attributed its success to its diversified growth strategy, which has focused on three primary business divisions: Delta 9-branded cannabis product manufacturing and distribution; business-to-consumer retail cannabis sales and; business-to-business cannabis equipment sales and consulting.
Delta 9 added that it plans to continue growing the company’s retail store network throughout Canada, as well as online, while adding new craft brands and expanding into the US and other international markets where legally permitted.
Delta 9 Cannabis is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses.
Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand.
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