Terpene Innovator Recognized for Exceptional Revenue Growth and Industry Leadership
IRVINE, Calif., Aug. 15, 2024 /PRNewswire-PRWeb/ -- Abstrax, a pioneering leader in the research, development, and production of botanically-derived terpenes and flavors, proudly announces its ranking at #627 on the 2024 Inc. 5000 list. This prestigious list, compiled annually by Inc. magazine, recognizes the fastest-growing private sector companies in the United States, offering a definitive snapshot of the most successful independent businesses across various industries.
The Inc. 5000 list ranks companies based on percentage revenue growth from 2019 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2019, and must be U.S.-based, privately held, for-profit, and independent - not subsidiaries or divisions of other companies - as of December 31, 2023. Additionally, the minimum revenue required for 2019 was $100,000, and the minimum for 2023 was $2 million. Companies are ranked with growth rates calculated to four decimal places to ensure precision.
Abstrax's inclusion in the top twelve percent of the list, at #627, reflects its remarkable growth trajectory and unwavering commitment to value innovation. Over the past three years, the company has not only expanded its market reach but has also solidified its reputation as a leader in the terpene and flavor industry. Abstrax's success is driven by its state-of-the-art research facilities, strategic partnerships, and a dedicated team of experts committed to pushing the boundaries of what's possible in terpene research and product development.
"This is an incredible validation of the hard work and dedication of our team," said Max Koby, Founder and CEO of Abstrax. "This achievement is a testament to our relentless pursuit of excellence and our mission to transform lives through innovative botanical flavor technology that enhances mood and well-being. We are proud of what we've accomplished and are more motivated than ever to continue our growth and innovation journey."
Abstrax's innovative approach and focus on research excellence - along with developing advanced flavor solutions for cannabis, beer and beyond - have positioned it as a trusted partner for brands globally, offering the most authentic and advanced terpene-based flavors on the market. The company's cutting-edge licensed cannabis research, botanical R&D, and manufacturing labs have set new benchmarks in compound discovery, strain analysis and flavor development, making it a cornerstone of the industry.
As Abstrax looks to the future, this recognition by the Inc. 5000 serves as both a milestone and a catalyst for further growth. The company remains committed to advancing its research capabilities, expanding its product offerings, and leading the way in delivering the highest quality functional products to consumers worldwide.
About Abstrax: Where Innovation and Science Meets Flavor Mastery
As the pioneering leader in the world of botanical flavor technology, Abstrax excels in crafting innovative terpene-driven, functional flavor solutions. Serving the cannabis, hops, flavor and fragrance industries, Abstrax is the trusted product development partner that forward-thinking CPG brands turn to when looking for a competitive edge. Founded in California by a team of award-winning PhD scientists, flavor chemists, and visionary product developers, Abstrax harnesses its three divisions to craft transformative CPG applications via innovative technology and more sustainable, all natural, and cost effective ingredients. Abstrax Tech produces groundbreaking peer reviewed research publications, discovers new flavor compounds, and produces terpene blends and flavors for tobacco, cannabis, and food applications – including botanically derived cannabis flavor experiences, live all-natural hemp-derived terpenes, and mood-enhancing terpene-flavor systems. Abstrax Labs offers cutting-edge R&D, extraction and analytical technologies through its proprietary Terplytics™ system. Its technology delivers the most advanced botanical testing for exploratory research, sensory quantification, strain validation, product development, and consumer insights. Abstrax Hops provides the most advanced research, products, and services that push the limits of brewing innovation. Its wide range of solutions encapsulates the authentic varietal-specific Hop Flavors, Dank Flavors, and next generation of advanced hop products including natural hop aroma extracts. Abstrax offers the utmost in safety, quality and regulatory adherence, ensuring seamless integration into product lines. Delve deeper with Abstrax at AbstraxTech.com, AbstraxHops.com and AbstraxLabs.com.
Media Contact
Stacey Jones, Abstrax, 1 2139258177, [email protected], www.abstraxtech.com
SOURCE Abstrax
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