WILMINGTON, NC, June 07, 2022 (GLOBE NEWSWIRE) -- North Carolina-born Green Compass, Inc. (“the Company”) is happy to announce their financial results and strategic growth plan in the wake of a record-breaking first quarter.
Revenue Expansion
In Q1 of 2022, Green Compass achieved a 26% top-line growth year-over-year, a record-breaking number compared to previous quarters. To continue this trajectory, growth initiatives for 2022 will include a focus on enhanced customer experience, sales support, talent acquisition, streamlining operations, a nationwide summer activation, and corporate social responsibility initiatives to make quality hemp-based wellness products accessible to communities who need them most. Exciting new product launches are also planned, with innovative hemp-derived formulations—connecting science and nature.
"I am proud of the Green Compass team for all we have achieved so far—but rest assured, we’re just getting started. We are excited to implement these growth strategies during 2022 and as we look ahead to the future," said Sterling Cook, Chief Executive Officer. "This growth continues to solidify our market leadership position domestically, and potential international expansion opportunities."
Strategic Leadership Additions
Green Compass also continues to invest in the recruitment of top leadership team members, possessing unprecedented experience in direct-to-consumer, omnichannel retail, ecommerce and direct selling. Recent additions include: Robert Finigan, Chief Marketing Officer; Jana Kennedy, VP of Sales; and Colby Waisath, Chief Operating Officer.
In addition, the company has recently added new team members to almost every single aspect of the business including Marketing, Sales, Operations, Technology, Customer Service, Finance, Warehouse and Farm staff—more than doubling its corporate staff over the last 12 months. “With such rapid growth, we are grateful to be attracting such world-class talent to our company. My vision for Green Compass has always been, and always will be, about people,” says Meredith Cook, Founder and Visionary. “We are not only creating quality jobs, but more importantly, we are changing so many lives, all while creating a vibrant and family-oriented culture that celebrates our core values.”
Rebranding Initiative and Cause Platform
To set the foundation for the future, Green Compass is in the process of a comprehensive rebranding effort, with a core focus on sustainability, traceability, and diversity tied to its mission to harness the power of clean, organic hemp for the good of humanity. The company is creating a refreshed customer-led brand look-and-feel that speaks to the values—while creating renewed Advocacy for education, support, and inclusive communities where families everywhere are inspired to share their personal hemp-wellness journey. Additionally, the company has announced its new cause platform called “The Compass(ion) Project,” which will be allocating dedicated funds to three specific pillars of hope—PEOPLE, PLANT, and PLANET—through its “1% for Hope” fund.
Expanded Operations
Throughout the recent quarter, the Company has invested significantly in science-backed research and product development, with a large expansion in lab operations and product development capacity. In addition to its recent product launches, including Nano-CBG Collagen Powders, Terpene-Enhanced Digestive Health Jellies, and CBD/Glucosamine Pet Treats, the company is preparing for a robust product launch roadmap throughout 2022 and 2023. “Green Compass already has a unique advantage, possessing full control over our supply chain. We grow our own certified organic hemp and never use pesticides or other toxins. We are one of the few CBD producers that utilize food-grade CO2 extraction—a costly but critical method to achieving USDA organic certification—producing a superior quality, lower-toxin product than typical ethanol extraction,” says Sterling Cook. “We are proud of the progress we’ve made as a team, and we are grateful for the loyalty of both our Advocates and Customers. With rising fears of inflation and recession, we see our continued growth as a result of the broad range of health benefits our products are providing. I am extremely proud of our entire Operations and Farming teams.”
About Green Compass
Founded in Wilmington, NC, Green Compass is a mission-based market leader in the hemp-based wellness industry. The company is a social selling brand that harnesses the power of clean, USDA-certified organic hemp to develop and manufacture a broad range of clean-label, safe, and trustworthy products including CBD, terpenes, flavonoids, and other beneficial hemp-derived compounds. Green Compass hemp is thoughtfully grown and cultivated by its sixth-generation Co-Founders and farming partners. Green Compass owns all of its R&D, extraction capabilities, formulations, and manufacturing—making it one of the only true vertically integrated brands on the market today. With an emphasis on quality, the company’s unique philosophy is enhanced by its strong network of more than 16,000 social selling distributors (“Advocates”), who promote the company’s mission to develop clean-label, fully traceable and sustainable products that are made safely here in the US to distribute to families nationwide.
