– Second Quarter Total Revenue Grows by 24% Year-Over-Year- Second Quarter Highlighted by 249% Increase in Product Revenue- Company to Host Q2 2019 Financial Results Conference Call on Thursday, August 15, 2019, at 4:15 p.m. ET
DENVER, Aug. 14, 2019 — Medicine Man Technologies, Inc. (otcqx:MDCL) (“Medicine Man Technologies” or the “Company”), today provided the financial results for its second quarter of 2019.
During the three months ended June 30, 2019, the Company generated revenue of $1,757,819, an increase of approximately 24%, as compared to revenue of $1,417,687 in the three months ending June 30, 2018. Product sales grew 249%, from $380,699 to $1,331,979.
The Company reported cost of goods and services totaling $1,086,413 during the three months ended June 30, 2019. This is compared to $380,396 during the same time period in 2018. This rise in cost is due to increased sales of product and