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KushCo Revenue Better Than Originally Forecast

They pivoted this year to a focus on its larger more financially stable clients

KushCo Holdings, Inc. (OTCQX:KSHB) reported preliminary and unaudited financial results for its fiscal fourth quarter ended August 31, 2020 with revenue expected to be between approximately $25.5 million and $26.0 million, compared to approximately $22.3 million in its fiscal third-quarter 2020. The company noted that this would be an improvement from its previously disclosed guidance of between $24.0 million and $26.0 million.

KushCo said that the 14% to 17% expected sequential increase in revenue is being driven primarily by an increase in sales to its top 100 customers, which consists of leading multi-state operators (MSOs), licensed producers (LPs), and brands. The company had pivoted earlier this year to a focus on its larger more financially stable clients versus trying to service smaller clients who might not be in a position to pay their bills. In addition, the company also said it expects adjusted EBITDA for the fiscal fourth quarter 2020 to be between $0.25 million and $0.75 million, which represents an improvement from its previously disclosed guidance of between ($1.0) million and $1.0 million.

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