CLS Holdings USA Inc said its wholly-owned subsidiaries in Nevada generated net revenue of $1.9 million and a gross margin of 46% during October.
The Las Vegas-based company also said its revenue increased 8% year-over-year and 87% compared to 2019.
CLS Holdings USA said the wholesale division at its branded City Trees subsidiary continued a steady rise with net revenue growth of 34% year-over-year and 140% from 2019.
READ: CLS Holdings USA clocks up net revenue of $1.7M in September 2021 as it keeps a sharp lens on brand growth
The company noted that City Trees maintained its position as the No.1 selling tincture brand in Nevada.
BDS Analytics reported September numbers showing City Trees was the No. 2 selling concentrate brand for the entire category by units as well as the No. 1 brand for concentrates in both units and dollars sold in the state.
In addition, the company's retail division, Oasis Cannabis, continued to exceed its goal of a greater than $50 average order size with orders averaging $57 in October.
"When I see our brand at the top of BDS analytics I am thrilled,'' said CLS Holdings USA President & COO Andrew Glashow in a statement.
"As a truly original local brand, we are competing against much larger multi-state operators as the Nevada market continues to grow. What we have been able to accomplish is a testament to our team and our product. I would put us up against any other cannabis brand in the world."
Meanwhile, as of February 2022, the company said it will transition to quarterly reporting with investor quarterly calls.
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