RE:Another BAD joke over 20 million missed revenue10.1 million impairment charge .. meaning garbage product ... BioSteel excessive product NOT selling in the American market and other downfalls
Not to mention those acquired assets that did not help ( acreage or supreme ) meaning things are not as rosy as management paints !!
- Net earnings: Net earnings in Q1 2022 of $390-million, a $518-million improvement versus Q1 2021, were driven primarily by other income totalling $581-million during Q1 2022 primarily attributable to non-cash fair value changes of $601-million.
- Adjusted EBITDA: Adjusted EBITDA loss in Q1 2022 was $64-million, a $29-million narrower loss versus Q1 2021, driven by higher sales and lower operating expenses. Adjusted EBITDA loss in Q1 2022 was negatively impacted by a $10.1-million impairment charge related to the changes in the company's sourcing strategy for certain products.
- Free cash flow: Free cash flow in Q1 2022 was an outflow of $186-million, a 3-per-cent greater outflow versus Q1 2021. Relative to Q4 2021, free cash flow during the quarter was negatively impacted by the timing of certain one-time payments totalling $19-million, incremental interest payment associated with the $750-million (U.S.) debt financing that occurred in Q4 2021 as well as the impact of inventory build for BioSteel's ready-to-drink (RTD) products in the U.S.
- Cash position: Cash and short-term investments amounted to $2.1-billion at June 30, 2021, representing a decrease of $200-million from $2.3-billion at March 31, 2021, reflecting EBITDA losses and capital investments.