Brand ExpansionThe launch of ATRx Labs and HempMD brands onto Amazon.com and upcoming retail expansion suggest potential for topline growth.
Market GrowthAccording to Grand View Research, the global cannabidiol (CBD) market is expected to expand at a compounded annual growth rate (CAGR) of 16.2% between 2023 and 2030.
Operational EfficiencyRecently, the company enacted several initiatives to reduce costs and drive operational efficiencies, which included reducing SKU count from 190 to approximately 60, and migrating its e-commerce sites to Shopify's platform.