Supreme Cannabis Company Inc. (The) T.FIRE

Revenue

[nearnorth101]

Revenue
Overall net revenue increased 24% to $11.9 million in Q1 2021 from $9.5 million in Q4 2020.
Recreational net revenue rose to $7.5 million, an increase of 3% quarter-over-quarter as a result of existing and new products continuing to be well received by the recreational cannabis consumer. In particular 7ACRES Craft Collective and cannabis extracts, which include oils, vapes and concentrates contributed a growing portion of the recreational sales in the quarter.
Wholesale net revenue, which includes the Company's sales in the international medical cannabis segment, in Q1 2021 was $4.4 million, up 92% quarter-over-quarter, with a 14% increase in average selling price, driven by a higher contribution from domestic flower. Wholesale volumes grew by 69% as the Company continues to forge longer-term relationships in the domestic market. The growth was also driven by a 25% increase in international medical sales with the Company strengthening its relationship with Breath of Life International Ltd., Israel's largest and leading producer of medical cannabis. The Company plans to add additional medical partners in various international jurisdictions.

[theTransporter]

Revenue growth did not impress me.  Was expecting better. Recreational only grew by 3% WoW which is a disappointment. Interestingly enough wholesale grew by 92% QoQ. WTF hapenned to recreatinal? I know she mentions this: This strong momentum led to September 2020 being Supreme Cannabis' highest month on record for recreational sales.  I wish we can get a

[nearnorth101]

finding out the sales for September would be a good question for the CC. as far as I can see the consensus for this quarter was a .03 loss per share, looks like we beat that

[nearnorth101]

"In the first quarter of fiscal 2021, we made solid progress towards our goal of transforming Supreme Cannabis into a premium cannabis CPG company. We continued to execute on our strategy of accelerating revenue and controlling our costs, which led to sequential growth in consolidated net revenue of 24%. Recreational net revenue grew slightly compared to the fourth quarter of 2020, due

[HorsesforCourse]

" Despite an initial drop in recreational sales volumes in July due to stockouts as a result of fulfillment and supply chain growth challenges, we built steady month-over-month improvement in August and September as our sales partnership with Humble & Fume Inc. gained traction. This strong momentum led to September 2020 being Supreme Cannabis' highest month on record for recreational

[George141]

tonight it will be a pork sandwich and a cold beer from the north wall... looks like a great report..can only go up from here

[nearnorth101]

should a good day for the SP tomorrow, it will be interestting to hear any guidance for Q2 on tomorrow's CC