Second Quarter 2021 Gross Revenues Increase 25% Sequentially to $16.2 Million;
Reports 6th Consecutive Quarter of Positive EBITDA(1)
OAKLAND, Calif. and TORONTO, Aug. 30, 2021 /CNW/ - Harborside Inc. ("Harborside" or the "Company") (CSE: HBOR) (OTCQX: HBORF), a California-focused, vertically integrated cannabis enterprise, today reported its financial results for the second quarter ending June 30, 2021 ("Q2 2021"). The unaudited condensed interim consolidated financial statements for Q2 2021 and corresponding management's discussion and analysis (collectively the "Q2 Filings") are available for download from the Company's investor website, investharborside.com, and on the Company's SEDAR profile. Unless otherwise indicated, all dollar amounts in this press release are in U.S. dollars.
Management Commentary
"I'm thrilled with the strong sequential growth we drove in our second quarter while continuing to make solid improvements to our gross margins and profitability," said Matt Hawkins, Chairman and Interim Chief Executive Officer ("CEO") of Harborside. "We continue to build a robust business, supported by our high-quality cultivation, leading consumer brands, and best-in-class retail experience. Our continued focus on improvement has allowed us to become a leader in the California cannabis market and we expect our business to continue to advance as we begin to integrate the synergies afforded by the Sublime Acquisition that closed in July".(2)
Mr. Hawkins added, "I'd like to thank our team for their ongoing dedication to achieving our goals and providing our customers with the incredible service, products and experiences that they have come to expect from Harborside. As we move into the second half of the year, our focus remains on further scaling our reach through accretive M&A opportunities and building our leadership team, including our goal to bring in a new CEO, which together with our strong foundation will position Harborside for long-term growth."(2)
Q2 2021 Operational Highlights
Subsequent Events
https://www.newswire.ca/news-releases/harborside-inc-reports-second-quarter-2021-financial-results-827945716.html