RE:The Q1 Results Are InWOW ....to think its just the beginning, sorry for all those folks who sold today, just wait untill the next 2 quarters come in, Greenlane is in the right place at the right time.!
Airbud wrote: First Quarter Highlights Include:
- Record revenue of $12.2 million, an increase of 317% over the $2.9 million reported in the first quarter of 2020.
- Gross margin1 of $3.3 million (27% of revenue).
- Adjusted EBITDA of $0.6 million2.
- Net loss of $0.2 million (or $0.00 per share).
- Sales order backlog3 of $37.7 million as at March 31, 2021.
- Sales pipeline4, valued at over $715 million as at March 31, 2021.
- The Company increased its cash balance with a $26.5 million bought deal offering.
- 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.
- The Company successfully graduated to the TSX Exchange from the TSX Venture Exchange.
- The Company was recognized as the top performing TSX Venture Exchange listed company during calendar year 2020 in the Clean Technology and Life Sciences sector.
- The Company announced new contract wins totalling $3.6 million in the quarter including supply of a membrane separation biogas upgrading system for a project in the Midwest United States to produce renewable natural gas (“RNG”) from dairy operations, and a pressure swing adsorption biogas upgrading system for a project in Brazil, the fifth contract win in the country for Greenlane.