VANCOUVER, BC , May 14, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA) (" Zenabis " or the " Company ") today announced its financial results for the quarter ended March 31, 2021 . All amounts, unless specified otherwise, are expressed in Canadian dollars.
First Quarter 2021 Highlighted Financial Results
- Quantity of cannabis sold totaled 4,753 kg in Q1 2021, which was 27% greater compared to 3,730 kg in Q1 2020;
- Consolidated gross revenue totaled $16.2 million in Q1 2021, 8% higher than $15.0 million in q1 2020;
- Gross margin before fair value changes to biological assets and inventories was $2.7 million or 21.5% of net revenue in Q1 2021, compared to $5.0 million or 39.7% of net revenue in Q1 of the prior year;
- Consolidated Adjusted EBITDA for the quarter totaled a loss of $1.9 million , compared to loss of $768 thousand in Q1 2020;
- Consolidated net income for the quarter totaled $9.1 million or $0.01 per share, fully diluted, compared to a loss of $7.8 million or $0.02 per share, fully diluted, in the same quarter of last year;