Driven Deliveries Inc. (OTC: DRVD), a California-based online cannabis retailer and direct-to-consumer delivery company, shared some information about its fourth quarter ahead of its earnings announcement, expected in late February.
Over the quarter, Driven Deliveries completed more than 31,000 deliveries, while reducing average customer acquisition costs considerably, from $22.16 in the third quarter to $13.80 in the fourth quarter. Gross margins rose by 3% over the quarter.
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In a press release, the company said its “significant uptick in performance” relates to a “relentless focus on operational integration and increased investment in retail marketing, both internally and with expanded partnerships.”
“Driven is growing strongly, expeditiously and healthily,” said Christian Schenk, CEO of Driven Deliveries. “Q4 was about execution and achieving the operational benefits of integrating the operation of our three mainstay brands Ganjarunner, Mountain High Recreation and GanjaBudee... With California Operations now operating at peak efficiency levels, we have the blueprint to begin expansion of our operation into additional states.”
Other companies in the cannabis delivery space include Eaze, a Casa Verde Capital portfolio company, and SpeedWeed.
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