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Levitee Labs (CSE:LVT) releases positive results from revenue report

Health Care, Psychedelics
CSE:LVT
05 October 2021 12:00 (EDT)
Levitee Labs - CEO, Pouya Farmand.

Source: Levitee Labs.

Levitee Labs (LVT) increased revenue by 10 per cent in one month.

Since acquiring ACT Medical Centres in July, Levitee Pharmacies sees its revenue increase by 10 per cent.

 On a consolidated basis, Levitee Labs records an unaudited revenue of $893,863 for the month of August.

Earth Circle Organics, Levitee’s direct-to-consumer and wholesaler of supplements and superfood products increased its sales by 14.5 per cent. This was made possible through further scaling of their direct-to-consumer business and introducing a multidisciplinary component to Levitee Labs’ healthcare assets and incorporating new mental health and treatment patterns.

Pouya Farmand, founder and CEO of the company, states it is successfully executing strategic plans to change internally and increase growth through cross-sales opportunities.

Levitee will look to build more on its fast-growing expansion plans for the next 12 months. The core focus for Levitee is to generate revenue by taking advantage of profitable business investments, increasing margins, further developing its portfolio of assets through organic growth and other major growth opportunities that become available in the market.

Levitee Labs is a leader in the integrative wellness space. It aims to transform mental health and addiction treatments through the integration of psychedelic medicines and therapies into a medical home care model.

Levitee (LVT) is up 1.06 per cent today, and is trading at C$0.48 per share as of 10:50 a.m. ET.

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