STMH - Release - Stem Holdings Inc. dba Driven By Stem Announces Record Sales and Gross Margin for the Third Quarter

BOCA RATON, Fla., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Stem Holdings, Inc. d/b/a Driven by Stem (OTCQX: STMH) (CSE: STEM) (the "Company" or "Stem"), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today reported results for the third fiscal quarter ended June 30, 2021. Stem reported third quarter record gross sales of US$12.4 million and net sales of US$10.6 million, a 104% increase and 103% increase, respectively, over the prior year’s US$6.1 million gross sales and US$5.2 million net sales. Gross margin improved 7.6% to 41.8%, reflecting improvements in productivity, mix, and synergies from the Company’s acquisition of Driven Deliveries, Inc. Read More >>