Driven Deliveries April Sales Revenue Exceeds Estimations

Cannabis company Driven Deliveries Inc. DRVD reported Tuesday its April online sales revenue of $1.84 million, surpassing its estimates by over $200,000.

Over the same period, the aggregate gross profit margin for online sales increased by 6% compared to 58% in March.

Within a month, the Los Angeles-based cannabis retailer providing e-commerce solutions delivered more than 21,000 orders to its registered users. Meanwhile, its customer base grew to acquire 4,600 new members.

Ganjarunner and Budee – the company's delivery services – are counting approximately 220,000 users.

During the three consecutive months, the consolidated cost of acquisition for new customers has improved, reaching $10.77 in April. Internal acquisition displayed a lower COA of $4.37.

"The company continues to implement major improvements in both our new customer acquisition capabilities as well as our existing customer engagement programs. As we continue to scale, our cost of customer acquisition will continue to improve, predominantly due to our customer's loyalty. We continue to exceed our forecasts in both categories," said Driven Deliveries' CEO Christian Schenk.

Last month witnessed the introduction of the company's two new tech-achievements, including Driven by Numbers, a data analytics and visualization platform, and Brand Budee, a unique brand-to-consumer technology.

In March, the company acquired Budee Inc. and gained additional 115,000 consumers per year and $7.7 million in online sales.

"Technology is the foundation of our business and enables us to achieve scale in all aspects of our operation including our customer-facing shopping tools, routing and dispatch as well as compliance, inventory management and marketing automation," Driven President Sal Villanueva said.

Photo courtesy of Driven Deliveries