As expected, quarterly earnings from Planting Hope (TSXV: MYLK) have shattered expectations. In the company’s announcement last week, it reported USD $2.5 million (C$3.2 million) in revenues for Q1 2022.
This number represents 95% of the total FY 2021 revenues of $2.7 million, and a growth of 605% over Q4 2021 revenues. These numbers are indeed staggering, but for me, they were more than anticipated.
Planting Hope has been gaining significant traction across distribution channels and e-commerce platforms, and whatever momentum they’ve achieved has only accelerated in recent months. With distribution efforts continuing to prove fruitful for the company, I would bank on Q2 earnings to beat these already impressive metrics.
Shares of $MYLK.v are currently up 28% from recent lows, trading at $.68. The company is presently valued at C$32.47 million.
https://ceo.ca/@accesswire/planting-hope-reports-record-quarter-of-25-million