Good Natured Products Inc V.GDNP.H

Chemicals Basic Materials

good natured Products Inc. offers an assortment of plant-based products made all, or in part, from the maximum possible amount of rapidly renewable resources. The Company’s segments include Industrial, Packaging, General Merchandise, Commercial Business Supplies, and Services. The Company engineers and distributes a diverse range of bio-based products across various sectors, including grocery, restaurant, electronics, automotive, and pharmaceuticals. Its operations are within the packaging and consumer goods manufacturing industry. It offers over 400 products and services through wholesale, direct to business and retail channels. It also offers direct purchasing through its own e-commerce platform in the United States and Canada and through Amazon and other third-party channels. It offers consumers, business owners and operators’ plant-based alternatives to everyday petroleum-based products that are being used in homes and businesses.

TSXV:GDNP.H - Post by User

Good Natured Products Inc > Very much what we expected

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Comment by cleareyeon Nov 30, 2021 7:47am

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RE:RE:RE:Very much what we expected

As others have written, I expect gdnp to increase top line now and do a reasonable job of controlling costs. I think that they are acheiving that.

Here are a few highlights from the news release:

Key Highlights:

Revenues for Q3 2021 increased 286% to a record $18.0 million compared to $4.7 million for the three months ended September 30, 2020. Revenue for YTD 2021 increased 236% to $38.3 million compared to $11.4 million for the nine months ended September 30, 2020.
Variable gross margin, a non-GAAP measure, for Q3 2021 increased 196% to $5.2 million and 28.8% of sales, compared to $1.75 million and 37.6% of sales for the three months ended September 30, 2020. Variable gross margin for YTD 2021 increased 183% to $12.7 million and 33.2% of sales, compared to $4.5 million and 39.4% of sales for the nine months ended September 30, 2020.
Gross margin increased 129% to $4.0 million for Q3 2021 and 130% to $10.3 million for YTD 2021, As a percentage of sales, gross margin for Q3 2021 and YTD 2021 was 22.3% and 26.9% respectively.
Selling, general and administrative expenses excluding acquisition activity and one-time charges, a non-GAAP measure, for Q3 2021 and YTD 2021 were $4.8 million and $11.2 million compared to $2.0 million and $4.9 million for the three and nine months ended September 30, 2020, representing an increase of 141% and 132% respectively.
Selling, general and administrative expenses for Q3 2021 and YTD 2021, including acquisition activity and one-time charges, were $5.4 million and $12.9 million compared to $2.1 million and $5.5 million for the three and nine months ended September 30, 2020, representing an increase of 154% and 136% respectively.
The Company's Adjusted EBITDA, a non-GAAP measure, for Q3 2021 and YTD 2021 showed a loss of $0.6 million for both periods, compared to a loss of $0.3 million and $0.7 million for the three and nine months ended September 30, 2020 respectively. YTD 2021 Adjusted EBITDA improved 11% compared to the nine-month period ended September 30, 2020.
In Q3 2021, the Company incurred a net loss of $2.9 million compared to a net loss of $1.7 million in the three months ended September 30, 2020. Net loss for YTD 2021 was $8.5 million compared to a net loss of $4.0 million in the nine months ended September 30, 2020.
Net working capital increased to $12.4 million at the end of Q3 2021, compared to $3.8 million at September 30, 2020, an increase of 225%