quinlash wrote: A quick re-cap of our last QTR report, next QTR report comes out Thursday Morning, March 18th !
Can't wait :)
Gross revenue is all the money brought in from sales. Net Revenue is profit from sales less expenses including tax that has to be paid back to the gov.
Key Financial & Operating Highlights from 2021 Q1
Gross revenue of $41.3M, the highest in the Company’s history, increased 14% from 4Q20 and 114% from the comparative prior year period.
Net revenue of $29.5M, up 9% from 4Q20 and 103% from the year ago period.
Sales momentum increased across Canada, with 18% of the periods gross sales coming from
Alberta, 15% from Ontario and 6% from British Columbia.
Maintained number one market share in Quebec.
Number one in beverages with net revenue increasing 54% versus 4Q20.
Six straight quarters of Adjusted EBITDA loss improvement, 87% reduction from ($3.25M) in
4Q20 to ($0.42M).
Adjusted Gross Margin of 39% on sales excluding adult-use beverages, while beverage related revenue was gross margin positive in just its second full quarter of being in market.
At the close of Q1, the Company’s working capital was $250.3M, including $149.8M of cash.
Operational cash use of ($6.1M) for the quarter, not including financing and investing activities.
Link to Full Summary https://www.globenewswire.com/news-release/2020/12/14/2144424/0/en/HEXO-Corp-Reports-First-Quarter-Fiscal-2021-Financial-Results.html