Bloomios Stock Price, News & Analysis

Bloomios, Inc. (OTCQB: BLMS) is a premier white-label and private-label manufacturer specializing in hemp-derived nutraceutical, cosmetic, and pet products. Headquartered in Santa Barbara, California, with manufacturing and distribution facilities in Daytona Beach, Florida, Bloomios provides custom formulation, brand development, manufacturing, and order fulfillment to a diverse range of clients, including small and major brands, chain stores, vape shops, and distributors.

In the second quarter of 2023, Bloomios reported a remarkable increase in revenue, totaling $2.7 million, up 111% from the year-ago quarter. The company's year-to-date revenue has surged to $5.4 million, marking a 96% increase. Despite a net loss of $2.3 million, primarily due to increased costs associated with the integration of Infusionz, a wholly-owned subsidiary acquired in October 2022, Bloomios has maintained its commitment to optimizing operations. The company has successfully relocated and integrated its equipment and systems, retaining its cGMP certification at the Daytona Beach facility.

CEO Michael Hill highlighted the company's focus on expense reductions, enhanced efficiencies, and expanding its product offerings. As Bloomios continues to integrate Infusionz, it anticipates an improvement in gross margins in the upcoming quarters. The company currently offers over 80 customizable hemp products across 10 categories, catering to the growing demand in the hemp-derived products market.

Bloomios' recent achievements and strategic initiatives underscore its dedication to growth and operational excellence. The company's regional sales offices in Colorado and Florida further bolster its market presence. For more information, visit bloomios.com.