Helix TCS Inc Announces 63% Revenue Growth in Q1 2018
Helix TCS, Inc. (HLIX), the leading provider of integrated operating environment solutions for the legal cannabis industry, announced its first quarter 2018 financial results today.
For the first quarter of 2018, Helix generated revenues of $1,128,338, representing 63% growth over first quarter 2017 revenues of $691,737. Gross profit increased from $81,534 in Q1 2017 to $337,633 in Q1 2018, representing an increase in gross margin from 11.8% to 29.9%, respectively.
“Our strong revenue growth is the result of driving our organic revenues as well as executing on our acquisition and integration strategy,” Zachary Venegas, Helix’s CEO commented. “The 153% gross margin increase stems from our focus on operational excellence, continuous improvement, and growth in higher margin business lines.
We anticipate that with our signed pipeline of new revenue we should continue to deliver industry leading results to clients, investors, and employees as we explore new geographies and services both in the U.S. and internationally.”