Blowout QuarterSupreme handily crushed analyst expectations of $14 and $15m, reporting $18.3m in net revenue.
Some highlights:
- Net revenue of $18.3m
- Postive adjusted EBITDA of $3.6m
- Net revenue grew 54% quarter over quarter
- Operating cash flow at break-even
- Cash on hand is about $42m
- Operating expenses dropped 2% to $8.4m despite increase in sales and marketing
- Distribution improved remarkably with over 3400 new product listings in the quarter
You can read more at:
https://www.supreme.ca/supreme-cannabis-announces-financial-results-for-q2-2021
and for more detailed information, check out their filings on SEDAR.
Stock should see some solid sustainable gains tomorrow. And we should see analysts start moving up their price targets. Congrats to the longs - patience is paying off.
Cheers.