Marijuana Company of America Reports Highest Quarterly Revenue Since Inception — What You Should Know About the Company's Journey in 2021

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Marijuana Company of America Inc. MCOA had an active year in 2021. Despite its already existing basket of cannabis companies, MCOA continued to add to its portfolio and cement strategic partnerships with key operators in 2021. 

On Oct. 11, for example, the company announced it received approval from Brazil’s regulatory agency ANVISA to sell physician-prescribed hempSMART™ in the country, one of the largest CBD markets in South America. 

The company continued its expansion with an acquisition announced just three days later. On Oct. 14, MCOA confirmed that it has completed the acquisition of VBF Brands Inc. in a deal it called the most significant acquisition in the company’s history. VBF is a fully licensed marijuana cultivator and distributor based in Salinas, California, and was previously a wholly-owned subsidiary of Sunset Island Group Inc.

“MCOA expects that the acquired subsidiary should be significantly accretive to the company's topline revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization) expectations for 2022,” the company wrote soon after the acquisition. 

On Nov. 18, MCOA reported its highest quarterly revenue since its inception, with a total of $444,178. 

Cannabis Legislation: What To Expect From MCOA in 2022

While no one can predict the future, lawmakers have been leaning toward the legalization of cannabis in the last couple of years. 

Notably, the Agriculture Improvement Act of 2018, more commonly called the Farm Bill, legalized hemp products with a tetrahydrocannabinol (THC) level below 0.3%, and the more-recent Marijuana Opportunity, Reinvestment and Expungement (MORE) Act proposed to end federal cannabis prohibition and expunge cannabis-related convictions. 

Investors who have pooled their resources into marijuana initiatives and companies like Tilray Inc. TLRY and Canopy Growth Corp. WEED may rejoice in the forward movement of such initiatives, but there’s still work to be done. The complicated regulatory infrastructure of cannabis and hemp fails to provide a consensus on national marijuana acceptance, and some acts, like the MORE Act, have failed to advance in the Senate. 

Despite challenges in the industry, MCOA reports that it recognizes the potential for success both before and after the dust settles on cannabis legalization. With 2021’s positive signs, the company remains steadfast on its mission. 

“MCOA continues to grow its business while remaining fiscally conscious and further establishing itself in the legalized cannabis THC, hemp, and CBD industries by offering unique exposure to the global cannabidiol sector,” the company wrote. “The company intends to continue to leverage its premium brand hemp-based products with investments in and collaboration with existing and new strategic partners.” 

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.