GREY:FFLWF - Post Discussion
Post by
whoknows on Apr 26, 2022 7:34am
FAF Announces 2021 Fiscal and Fourth Quarter Finanancials
LINK
https://money.tmx.com/en/quote/FAF/news/8442604334487302 Fiscal 2021 Highlights:
- Consolidated revenue for fiscal year 2021 increased 37% to a record $175.5 million
- Consolidated Adjusted EBITDA for fiscal 2021 was $5.1 million , consistent with the prior year
- Hifyre™ cannabis consumer technology platform generated a record $14.3 million for the fiscal year, an increase of 129% year-over-year
- Retail revenue increased 29% to a record $130.8 million for fiscal 2021, with more than 100 retail stores opened and operating at January 29 , 2022
- Acquired Pineapple Express Delivery, PotGuide and Wikileaf to expand logistics capabilities and web traffic as part of the asset light e-commerce strategy
Fourth Quarter 2021 and Recent Highlights:
- Consolidated revenue and Adjusted EBITDA for the fourth quarter of fiscal 2021 was $42.7 million and negative $2.4 million , respectively
- Hifyre™ revenue for the fourth quarter generated a record of $4.1 million representing a 7% sequential increase quarter-over-quarter
- Completed one of the final steps in preparation for listing on the NASDAQ including filing of the 40-F registration statement and DTC eligibility for common shares
- Announced intent to exercise Series B warrants by strategic partner Alimentation Couche-Tard, owner of Circle K convenience stores
- Announced an expansion of the industry-first Spark Select program, a new highly competitive product and pricing strategy to drive an expanded customer base, in a proactive response to the fast growing value-oriented cannabis consumer segment
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