Denver, CO, July 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Helix TCS, Inc. (HLIX) (the “Company”), the leading provider of critical infrastructure services to the legal cannabis industry, including seed to sale tracking, government traceability, and point of sale through its BioTrackTHC subsidiary, was identified by CannabizMedia as the leading provider of cannabis point of sale software by market share in the US for the 2nd time in a row. The point of sale report (the “Report”) states that BioTrackTHC is the leading retail point of sale provider in the US cannabis industry based on a 24% market share.
According to the report, market competition in retail point-of-sale increased markedly, with 43 providers in 2018 jumping to 68 providers in 2019. Despite this, BioTrack added 110 new customer locations, which is a 27% increase, the highest percentage growth out of the top 3 providers, demonstrating that BioTrack’s cannabis software sales are outpacing simple market growth.
“Opportunities abound in the software, data, and compliance space even as the competitive landscape sees rapid growth in new entrants in some segments, like retail POS. We still have generated significant growth over the last 6 months in this segment, and our other segments such as government traceability and cultivation have not seen significant increases in new entrants,” said Patrick Vo, CEO of BioTrackTHC. “The report shows that we were the only company in the space to grow by triple digits in customers and sustain market share leadership in the two largest emerging markets in the U.S., Oklahoma and California.”
Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, Inc. added: “As we continue to grow our revenues and service offering, we are translating our market share into a unique competitive position to continually better serve our clients with an integrated platform, which allows our clients to mitigate risk and support their growth.”
About Helix TCS, Inc.
BioTrackTHC is a wholly-owned subsidiary of Helix TCS, Inc. Helix TCS, Inc. (HLIX) is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Through its proprietary technology suite and security services, Helix TCS provides comprehensive supply chain management, compliance tools, and asset protection for any license type in any regulated cannabis market. Helix TCS' products reach over 2,000 customer locations in 37 states and 6 countries and has processed over $18 billion in cannabis sales. BioTrackTHC provides government cannabis tracking technology to 10 US states and territories. For more information on Helix TCS and to sign up for investor updates, visit us at www.helixtcs.com. For more information on BioTrackTHC, visit www.biotrack.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Helix TCS, Inc.
Scott Ogur, CFA
Helix TCS, Inc.