Please ensure Javascript is enabled for purposes of website accessibility

Marijuana Stock The Green Organic Dutchman Sees Revenue Rise 20%

By Joe Tenebruso - Aug 15, 2019 at 11:22PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

CEO Brian Athaide says the company has received "overwhelmingly positive" feedback for its premium certified organic cannabis products.

The Green Organic Dutchman Holdings (TGOD.F 8.70%) reported second-quarter results on Aug. 13. 

The Canada-based cannabis company's revenue rose 20% sequentially to 2.9 million Canadian dollars. Most of its sales were generated by its European operations, as the company just recently launched its Grower's Circle -- a small test of its medical marijuana distribution capabilities in Canada.

Additionally, The Green Organic Dutchman said that the construction of its Hamilton cultivation site was nearly finished.

"Q2 was pivotal for the company as we began commercial production in the second phase of our Hamilton site and expanded our product line for the Grower's Circle," CEO Brian Athaide said in a press release. "The product quality feedback from the Grower's Circle has been overwhelmingly positive, confirming that patients appreciate having access to premium certified organic cannabis, an underserved segment of the market."

A hand holding a cannabis leaf up to the sun.

Image source: Getty Images.

However, TGOD, as the company is also known, is not yet profitable. It generated a net loss of CA$16.6 million in the second quarter.

Still, management is optimistic that a deal it struck with Neptune Wellness Solutions in June will help TGOD fortify its leadership position in the organic cannabis-based consumer wellness product market in Canada.

TGOD is also in the process of applying for a listing on the Nasdaq as a means to broaden its investor base and facilitate future capital raises that could help to fund its growth.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

The Green Organic Dutchman Stock Quote
The Green Organic Dutchman
$0.09 (8.70%) $0.01

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/23/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.