Helix TCS Inc Announces Record Revenues for 2017
Helix TCS, Inc. (HLIX), the leading provider of integrated operating environment solutions for the legal cannabis industry, announced its 2017 financial results today.
For the fiscal year ending December 31, 2017, Helix generated revenues of $4,029,800, representing 90% growth over 2016 revenues of $2,121,600. Gross profit increased from $286,444 in 2016 to $1,152,776 in 2017, representing an increase in gross margin from 13.5% to 28.6%, respectively.
“In 2017, our second full year of operations, Helix continued to deliver on our strategic plan. Our revenue growth is greater than the industry’s expansion rate, reflecting the reality of our significant and growing market share. Further, nearly doubling our revenue while more than doubling our gross margin is a clear indication of the quality of our operators and the robust nature of our business model.” stated Helix CEO, Zachary L. Venegas. “Driving organic growth as well as completing the acquisition and integration of Security Grade Protective Services last year demonstrates that we have the internal capabilities to execute our strategy and continue to build real value for clients, employees, and shareholders.” Our ability to offer an integrated operating solution to our clients will only continue to increase as we add services and expand into new states and countries in 2018.”
Helix’s CFO, Scott Ogur, CFA added, “We closed the Security Grade acquisition in early June and worked diligently on the seamless integration of its operations into the existing Helix security platform, which added significantly to Helix’s revenue growth and gross margin expansion.”