Lifeist Wellness Inc V.LFST

Alternate Symbol(s): LFSWF

Lifeist Wellness Inc. is a Canada-based health-tech company. The Company leverages advancements in science and technology to develop innovative products to support human wellness and transform lives. The Company's key asset is its United States biosciences subsidiary Mikra Cellular Sciences Inc. (Mikra), a biosciences and consumer wellness company focused on developing and selling products. Mikra's products consists of Focus, Protect, Serenity, and CELLF.

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Lifeist Wellness Inc > Revenue didn't go down

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Post by whisky11on Aug 12, 2021 7:23pm

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Post# 33698585

Revenue didn't go down

. Go to SEDAR

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Q2 2021 Highlights:

Three consecutive quarters of improved gross margins before inventory adjustments as a result of increased sales of higher margin products.
Gross revenue for Q2 2021 was $6.3 million, of which a strong 52% is attributable to cannabis revenues, with cannabis revenues growing 18% in Q2 2021 compared to Q2 2020.
Operating expenses for the six-month period decreased by 15% compared to the same period in 2020 and contributed to improved EBITDA in all operating segments. Overall EBITDA across operating segments improved 33% in Q2 2021 and 30% in Q2 YTD 2021.
Inventories decreased by 14% to $5.2 million in Q2 2021 ($6.0 million in the first quarter ended February 28, 2021) demonstrating continued improved inventory management practices.
The Company’s working capital position remains strong at $25 million as at May 31, 2021.