Earnings Briefing, Cannabis Companies Showing Strong Growth

Grow Generation (OTCQX: GRWG)

GrowGeneration Q3 Revenue Increases 159% to $21.8 Million

Company Raises Revenue Guidance to  $74M – $76M

Q3 2019 Financial Highlights:

  • Net income of $1,049,699 for Q3 2019 compared to a net loss of $(784,573) for Q3 2018, an increase of $1.8 million.
  • Adjusted EBITDA of $2,046,730 for Q3 2019 compared to adjusted EBITDA of $(71,584) for Q3 2018, an increase of $2.1 million.
  • GAAP earnings of $.03 per share for Q3 2019 and $.07 per share year to date, basic.
  • NON-GAAP adjusted earnings per share of $.06 per share for Q3 2019 and $.14 per share year to date, basic.
  • Revenue of $21.8 million up $13.4 million or 159% over Q3 2018 revenues of $8.4 million.
  • For the nine-month period ended  September 30, 2019 , revenue was  $54.3 million  versus  $19.9 million  for the same period 2018.

For more information about Medicine Man Technologies, please visit http://www.growgeneration.com/

Medicine Man Technologies (OTCQX: MDCL)

Medicine Man Technologies Inc. Logo (PRNewsfoto/Medicine Man Technologies Inc.)

Medicine Man Technologies Q3 Revenue Increases 14% to $5.3 Million

  • Total revenue was $5,338,868, an increase of approximately 14% compared to revenues of $4,672,519 in the quarter ended September 30.
  • The Company reported cost of goods and services totalling $2,786,244 during the three months ended September 30, 2019. This compares to $459,280 during the same period in 2018. This increase was due primarily to increased costs related to the sale of products.
  • The Company reported net loss in the three months ending September 30, 2019 of $1,827,978, equivalent to ($0.05) per share, as compared to a net income of $4,950,601, or $0.18 per share, for the three months ending September 30, 2018.

For more information about Medicine Man Technologies, please visit https://www.MedicineManTechnologies.com.

Neptune Wellness Solutions (NASDAQ, TSX: NEPT)

Logo: Neptune Wellness Solutions Inc. (CNW Group/Neptune Wellness Solutions Inc.)
  • Total revenues for the three-month period ended September 30, 2019 amounted to $6,512, representing an increase of $2,151 or 49% over the first quarter ended June 30, 2019 and a decrease of $559 or 8% compared to $7,071 for the three-month period ended September 30, 2018.
  • Revenues from the Cannabis segment reached $1,220, an increase of $1,182 sequentially from the three-month period ended June 30, 2019. Neptune started the commercial operations of its Cannabis segment in March 2019 and hence had no revenues in the prior year period ended September 30, 2018.
  • Revenues from the Nutraceutical segment for the three-month period ended September 30, 2019 amounted to $5,149, representing an increase of 20% sequentially, over the first quarter ended June 30, 2019 and a decrease of $1,922 or 27% compared to $7,071 for the three-month period ended September 30, 2018. The decrease in revenues was attributable to timing of orders of our nutrition business.
  • Net loss for the three-month period ended September 30, 2019 amounted to $20,775 compared to $3,050 for the three-month period ended September 30, 2018, an increase of $17,725. The increase is mainly attributable to an increase in stock-based compensation expense, depreciation and amortization and to accretion expense on contingent consideration combined with a lower Adjusted EBITDA1.

For more information about Medicine Man Technologies, please visit https://neptunecorp.com

See Also: US & Canada Cannabis Stock Data

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