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ZenaTech Inc T.ZENA


Primary Symbol: ZENA

ZenaTech, Inc. is a Canada-based technology company specializing in artificial intelligence (AI) drone solutions and enterprise SaaS solutions for mission-critical business applications. Its solutions include Drone Technology Solutions and Enterprise Software Solutions. Its drone technology solutions include ZenaDrone 1000 and ZenaDrone IQ. The ZenaDrone 1000 is a drone that combines software technology and custom hardware components, catering to diverse industries. The ZenaDrone IQ series is designed for indoor hovering with autonomous inspection and monitoring capabilities. Its ZenaDrone solutions are used for agriculture, defense, and logistics applications. Its enterprise software solutions are TillerStack, SystemView, WorkAware, PsPortals, Pace +, and ZigVoice. Its Enterprise Software solutions are used by customers in government, law enforcement, health, telecom and industrial sectors for a variety of compliance, safety, field service, and records management applications.


NDAQ:ZENA - Post by User

Comment by Jimmy713on Apr 01, 2021 12:24pm
143 Views
Post# 32923310

RE:Zenabis Reports Q4 Revenues Of $15.9 Million, Net Loss Of $3

RE:Zenabis Reports Q4 Revenues Of $15.9 Million, Net Loss Of $3
Zenabis Narrows Net Loss Year Over Year on Revenue Improvement, Increased Market Share

Zenabis Global Inc. (ZENA.TO), a Canadian licensed cultivator of medical and recreational cannabis, overnight Wednesday reported fourth-quarter 2020 net loss from continuing operations of $9.9 million, or a loss of $0.01 per share, narrowing from a loss of $46.2 million, or a loss of $0.18 per share, in the year-ago quarter.

Net revenue for the quarter amounted to $15.9 million, up from $10.9 million a year ago. Adjusted EBITDA income from continuing operations improved year over year to $672,108 from a loss of $11.2 million a year ago.

For the full year 2020, net loss from continuing operations came to $54.9 million, or a loss of $0.10 per share, compared with a loss of $72.6 million, or a loss of $0.30 per share, a year ago.

Net revenue for the full year 2020 totaled $59.3 million, an increase from $30.4 million a year ago. Adjusted EBITDA income from continuing operations amounted to $3.5 million, rising from a loss of $38.7 million a year ago.

Zenabis attributed the revenue increase to growth across all channels, including consumer sales, exports and domestic wholesale bulk, along with the impact of new products commercialized during the year, specifically the PAX and 510-threaded vaporizer cartridges.

"Sales into the Canadian recreational market grew 78% as the recreational market grew during the year, but more importantly, the company's market share increased from 1.0% to 1.7%," said Shai Altman, CEO of Zenabis.

The company said it sees opportunities for continued growth in the Canadian recreational market in 2020 with the continued addition of retail stores throughout the country, boosting access to cannabis products. The Canadian adult-use recreational market is also expected to expand due to increasing availability of derivative products.

Zenabis also believes shipments will recommence in the second quarter into export markets as new regulatory requirements are addressed in markets introduced in the fourth quarter of 2020.


AwareInvestor wrote:
Zenabis Global last night quietly filed its fourth quarter and full year 2020 financial results. The company saw fourth quarter net revenues of $15.9 million, a 16.5% decline quarter over quarter in terms of cannabis revenue, and a 33.0% decline in terms of total revenue reported by the firm in the third quarter. Notably, non-cannabis segments that were sold off in the fourth quarter were omitted from the final year end tally. Net loss for the quarter amounted to $30.1 million.



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