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Valens reports financial results for Q2 2021

Stockhouse Editorial
8 Comments| July 15, 2021

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Click to enlargeKelowna BC-based cannabis extraction company The Valens Company Inc. (TSX.VLNS) – a leading manufacturer of cannabis products – has announced ts second quarter financial results for the period ended May 31, 2021.

Highlights:

  • Valens entered the US market with the acquisition of Green Roads, securing a global leadership position in the health and wellness market.

  • Country-wide SKU listings increased 76.0% to 132 as of the end of Q2 2021, compared to 75 in Q1 2021.

  • Nine additional SKU listings were achieved since the end of Q2 2021, and another 40 SKU listings have been accepted by provincial distributors with first shipments expected in Q3 or Q4 2021 bringing total to 181.

  • Estimated share of the growing extract-based market remained stable at ~5% in Alberta, British Columbia, and Ontario in Q2 2021, based on Hifyre data and not including B2B LP manufacturing.

  • Entered into four new product categories, including flower, pre-rolls, topicals, and edibles, significantly increasing Valens' total addressable market in Canada and beyond.

Full news release here.

New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.


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