OTCQX:ACRGF - Post by User
Post by
smallcapsteve2on Nov 22, 2019 8:32pm
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Post# 30384515
Breakdown of QoQ numbers, Look at the October 2018 Deck
Breakdown of QoQ numbers, Look at the October 2018 Deck After the bell Acreage Holdings (CSE: ACGR.u) released their financial statements on Sedar. They previously gave us a detailed news release with some statements, sans accounting notes, on November 12th. A move common amongst US cannabis operators leaving Canadian’s scratching their heads.
We broke down the quarter over quarter results for readers here:
| In Millions ($US) | Q3’19 | Q2 ‘ 19 | QoQ Change |
| Pro-forma revenue | $ 42.22 | $ 36.60 | 15% |
| Revenue | $ 22.40 | $ 17.75 | 26% |
| Gross Profit (pre-bio) | $ 9.16 | $ 6.81 | 35% |
| Bio Adjustements | $ 2.52 | $ 7.63 | -67% |
| Gross Profit (post-bio) | $ 11.67 | $ 14.44 | -19% |
| Gross Margin | 52.10% | 81.35% | |
| Operating Expenses | $ 58.14 | $ 52.25 | 11% |
| Net Loss | $ 39.39 | $ (33.93) | |
| Operating Cash Flow | $ (16.25) | $ (23.24) | -30% |
| Investing Cash Flow | $ (22.74) | $ 57.46 | |
| Cash | $ 37.64 | $ 84.49 | -55% |
| Receivables | $ 0.13 | $ 0.24 | -46% |
| Inventory | $ 38.21 | $ 36.66 | 4% |
| Biological Assets | $ 9.49 | $ 6.59 | 44% |
| Payables | $ 13.81 | $ 13.62 | 1% |
| EBITDA | $ (44.62) | $ (37.43) | 19% |
| Adjusted EBITDA | $ (12.39) | $ (15.25) | -19% |
| Pro-Forma Adj. EBITDA | $ (9.08) | $ (12.02) | -24% |
The quarter saw pro-forma revenue grow by 15% to $42.2M, with reported top line revenue growing to $22.4M up 26%. The company saw a relatively smaller increase in operating expenses up only 11%, with operating cashflows getting closer to break even down from $23.2M to $16.3M.
Acreage saw their investing cash flow reach back into negative territory after the Q2 positive number that saw the maturation of $149M worth of US treasury bills.
https://thedeepdive.ca/acreage-holdings-reports-to-sedar-pretty-far-from-pre-public-guidance/