Cannabis company Medical Marijuana, Inc. (OTC:MJNA) posted Monday fourth-quarter and full-year 2020 earnings with yearly net revenue of $46.9 million, compared to $75.6 million in the previous year.
Gross Margins jumped from 76% in 2019 to 80% in 2020.
Its GAAP sales and marketing expense decreased as a percentage of sales from 55% in 2019 to 48% in 2020.
At the end of the year, the company held cash of $5.7 million.
Business Highlights:
The San Diego, California-based company recently finalized a clinical study using Real Scientific Hemp Oil-X CBD Oil and released results in the EX Neurology journal;
Its subsidiary Kannaway took part in the 2020 Validcare clinical study on CBD liver toxicity;
Medical Marijuana Inc (MJNA) Stock Surges On Q4, Full-Year Earnings Report Benzinga 3 hrs ago
Cannabis company Medical Marijuana, Inc. (OTC: MJNA) posted Monday fourth-quarter and full-year 2020 earnings with yearly net revenue of $46.9 million, compared to $75.6 million in the previous year.
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Gross Margins jumped from 76% in 2019 to 80% in 2020.
Its GAAP sales and marketing expense decreased as a percentage of sales from 55% in 2019 to 48% in 2020.
At the end of the year, the company held cash of $5.7 million.
Business Highlights: The San Diego, California-based company recently finalized a clinical study using Real Scientific Hemp Oil-X CBD Oil and released results in the EX Neurology journal; Its subsidiary Kannaway took part in the 2020 Validcare clinical study on CBD liver toxicity; Kannaway launched in the U.S. cannabinol market with two new CBN isolate product in the U.S. and reached the European cannabigerol market with its Kannaway Premium CBG.