Namaste Announces Quarterly Sales of $4.1M Representing 32% Quarter-Over-Quarter Growth

Namaste Technologies (CSE:N) has announced the filing of its unaudited financial statements for the third quarter of fiscal 2018.

As quoted in the press release:

The Company’s net revenues for the three months ended May 31, 2018 were $4.1 million (2017 – $3.1 million), which is an increase of $1.0 million or 32% as compared to the three months ended May 31, 2017. The increase in net revenues during the third quarter of 2018 was primarily due to organic growth in the Company.

The Company’s net revenues for the nine months ended May 31, 2018 were $14.6 million (2017 – $7.1 million), which is an increase of $7.5 million or 106% as compared to the nine months ended May 31, 2017 despite having divested the Company’s U.S. business in December 2017. The increase in net revenues during the nine months ended May 31, 2018was primarily due to revenue growth from EDIT domains and Australian Vaporizers. EDIT domains were acquired in October 2016 and Australian Vaporizers was acquired in March 2017.

Click here to read the full press release.