Cannabis Wellness Company OMID's Unaudited Results For Q1 Show Solid Revenue Growth

OMID Holdings, Inc. OMID released its unaudited financial & disclosure statements for the three months ended March 31, 2022, revealing revenue was $358,772 compared to $278,124 for Q1 2021, a 29% improvement from the comparative quarter in the previous year.

Gross Profit for Q1 2022 was $175,247 compared to $139,126 for 1Q2021, a 26% improvement from the comparative quarter in the previous year. Net Income before income taxes for Q1 2022 was $75,209 compared to $47,525 for the 1Q2021, a 58% improvement from the comparative quarter in the previous year.

“As we have come to expect over the past several years, the first quarter is frequently our slowest quarter of the year. Nonetheless, I see the year-over-year improvement – as well as record revenues for this period – as an encouraging sign. We look ahead with optimism for continued success throughout the rest of 2022.” stated Adam Frank, chairman & CEO of OMID Holdings, Inc.

Photo: Courtesy of OMID Holdings, Inc.

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