Q3 2020 Financial Summary (unaudited) + More!
Published on Oct 8, 2020
The second quarter was our best quarter ever, until the third quarter came along. After Covid-19 shut things down in March (including much of our wholesale business), our online revenue has nearly tripled. September was the best month in company history with $39,832 in gross revenue, roughly $34,500 of which came from online sales. We began new partnerships with Thrillist and The Inventory, and we have grown our organic Google traffic by 10x since March 31, the day before we began our campaign on Wefunder (screen shots below).
Q3 Financial Summary
Revenue - $102,634
COGS - ($33,253)
Gross Profit - $69,381
Marketing Expenses - ($37,553.99)
Operating Expenses - ($22,992.75)
Net Income - $8,835
Q2 Revenue: $94,259
Q3 Revenue: $102,634
Organic Google Traffic: (screen shots below)
Thursday, March 31: 32 Clicks, 3,820 impressions
Thursday, October 1: 476 Clicks, 34,762 impressions
Where do we go from here?
This data shows that Cornbread Hemp is building serious momentum in the marketplace - and most of that is coming from organic search traffic for different topics related to CBD. As we continue to roll out some new digital marketing tactics in Q4 (some of which you may already be seeing), our goal is for organic traffic and online revenues to double again in Q4. The excitement has only just begun, and you still have a chance! Our campaign is closing for good in just 22 days, on October 30.
Thanks to everyone who has already invested, and please feel free to reach out to us with any questions you have. We are always available and happy to chat!
Cheers to the journey ahead,
Eric Zipperle
Co-founder & CEO