RE:RE:RE:earningsExpectations were for flat EPS but it came out at -0.01.
This company is watching the Pipline money increase every year, now $720M, and they are fishing in that pond and it is OBVIOUS that as it increases so do Greenlanes revenues.
Highlights from Earnings and not Conf Call
Record revenue of $8.8 million, an increase of 167% over the $3.3 million reported in the fourth quarter of 2019, - Gross margin1 of $2.4 million (27% of revenue),
- Positive Adjusted EBITDA of $0.2 million (was negative now positive)
- Net loss of $1.2 million (or $0.01 per share),
- Record sales order backlog3 of $45.7 million at year end, an increase of over 180% from the $16.2 million reported as at December 31, 2019,
- Sales pipeline4, valued at over $720 million as at December 31, 2020 versus $680 million as at December 31, 2019, reflects both the increase of more than $89 million in new opportunities and the movement of $49.1 million in signed contracts into the sales order backlog. Greenlane has visibility to more than 180 new projects globally,
- Multiple contract wins totalling $18 million: The Company announced in the quarter a new $7.7 million pressure swing adsorption system supply contract for a multi-site dairy farm renewable natural gas (“RNG”) project in Florida as part of the Chevron U.S.A and Brightmark LLC joint venture and a $10 million membrane separation system supply contract for a new RNG project in the United States owned by an international energy company.
Given that and projection for them to have revenues grow from here. We are looking at $36M to possibly $42M in 2021. ALSO they got rid of debt
"The Company further strengthened its balance sheet through the early repayment in full, including principal and interest, of its outstanding promissory note in the amount of $6.0 million using funds received from the exercise of warrants." By what other metric would you evaluate this company? Some idiot who listened to the Conference call and made a subjective call that the future doesn't look good is more accurate than what the company is doing? Nope!