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Medipharm Labs Corp T.LABS

Alternate Symbol(s):  MEDIF

MediPharm Labs Corp. is a Canada-based full-service pharmaceutical company. The Company specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products. Through its wholesale and white label platforms, the Company formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. It also provides GMP flower sourcing, packaging, and distribution services for select international clients. In addition, it cultivates cannabis to sell as dried flower, pre-roll and other cannabis products for the adult use and medical markets. It also sells metered dose inhalers and aerosol sublingual sprays. Through Harvest Medicine, it provides clinic services to Canadian patients requiring medical cannabis education and prescriptions.


TSX:LABS - Post by User

Bullboard Posts
Post by Carbonbygravityon Aug 12, 2019 5:15pm
111 Views
Post# 30019707

Revenue was $31.5 million, a 43% increase over Q1 2019!

Revenue was $31.5 million, a 43% increase over Q1 2019!KEY Q2 2019 HIGHLIGHTS(2) Revenue was $31.5 million, a 43% increase over Q1 2019, reflecting the Companys leadership of the Canadian cannabis extraction-only industry and ramp up of new committed contracts Gross Profit was $11.3 million, a 65% increase over Q1 2019, while Gross Margin was 36% compared to 31% in Q1 2019, reflecting increased production and production efficiency that continues to improve as the Company realizes economies of scale Adjusted EBITDA(1) was $7.7 million, 79% higher than Q1 2019, while Adjusted EBITDA(1) margin was 24% compared to 20% in Q1 2019 Net income before tax was $4.1 million compared to a net loss of $0.3 million in Q1 2019 Gross proceeds of $75 million were received from an oversubscribed bought-deal offering of 13.5 million common shares at a price of $5.55 per share and $9.5 million proceeds from warrant exercises Investing capital raised to build additional scale in Canada and Australia that will support an increase in the Companys addressable markets and further diversify its product lines in anticipation of expanded Canadian legalization in the fall of 2019 Source: https://www.globenewswire.com/news-release/2019/08/12/1900757/0/en/MediPharm-Labs-Reports-Strong-Profitable-Second-Quarter-Results.html
Bullboard Posts