MediPharm Labs Show Strong Growth, Other Cannabis Companies Moving in the Right Direction

Cronos Group Q3 Revenue Increases to $12.7 Million

  • Net revenue was $12.7 million in Q3 2019, representing a 238% increase from $3.8 million in Q3 2018, primarily driven by the launch of the adult-use market in Canada and the inclusion of Redwood from the date of closing on September 5, 2019 to the end of the quarter. Net revenue increased 24% quarter-over-quarter from $10.2 million in Q2 2019, primarily driven by increased sales in domestic dried cannabis and the inclusion of Redwood.
  • 3,142 kilograms were sold in Canada in Q3 2019, representing a 511% increase from 514 kilograms sold in Q3 2018, primarily driven by increased cannabis production and the launch of the adult-use market in Canada. Kilograms sold increased 98% quarter-over-quarter from 1,584 kilograms sold in Q2 2019, primarily driven by increased domestic wholesale sales.
  • Cost of sales before fair value adjustments per gram sold for the non-U.S. market was $2.27 in Q3 2019, representing a 31% decrease from $3.28 in Q3 2018 and a 25% decrease from $3.01 in Q2 2019. The decrease quarter-over-quarter was driven by lower production cost on a per gram basis.

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MediPharm Labs Q3 Revenue Increases 38% From Q2 to $43.4 Million

MediPharm Labs Reports Strong, Profitable 2019 Third Quarter While Investing for Future Global Advantage

Revenue $43.4 million, adjusted EBITDA $10.1 million

KEY Q3 2019 FINANCIAL HIGHLIGHTS (1) (2)

  • Revenue was $43.4 million, a 38% increase over Q2 2019, as the Company expanded its leadership of the Canadian cannabis extraction industry
  • Gross Profit was $14.8 million, a 30% increase over Q2 2019 and Gross Margin was 34% compared to 36% in Q2 2019 despite lower market-selling prices and increased GMP audit certification costs
  • Adjusted EBITDA was $10.1 million, 31% higher than Q2 2019 and Adjusted EBITDA margin was 23% compared to 24% in Q2 2019 even as the Company made targeted audit-related expenditures to grow its EU-GMP-standard-built production facilities and expand its product capabilities
  • Net income before tax was $5.4 million compared to net income before tax of $4.1 million in Q2 2019
  • The Company’s balance sheet and financial capacity to support growth remained strong, with positive working capital of $87 million and cash and equivalents of $42.1 million at September 30, 2019, as well as unutilized credit under its new facility that closed subsequent to period end
  • Filed an application to list its common shares on the NASDAQ Stock Market after period end

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Aleafia Health Reports First Profitable Third Quarter

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You May Also Be Interested in these.

  • Ultra low-cost production at $0.08 cost per gram at outdoor facility
  • Average net revenue per gram equivalent of $15.11 for medical cannabis sales
  • Medical cannabis sales up 43% Q/Q, adult-use cannabis sales up 53% Q/Q
  • Active, registered medical cannabis patients increase 48% Q/Q
  • $57M in cash/marketable securities, $83M in working capital
  • Total expenses decrease 30% Q/Q
  • Net income improves to $1.9M, from $11.5M loss Q/Q
  • Adjusted EBITDA improves 44% Q/Q
Financial Results ($,000s)30-Sep-1930-Jun-19% Change
Total Revenue5,2903,95134%
Gross Cannabis Revenue4,1572,53264%
Clinics Revenue11,1331,419-20%
Gross Profit before fair value adjustment2,032557265%
Total Expenses8,46012,069-30%
Adjusted EBITDA2 (loss)(2,526)(4,538)-44%
Net Income (loss)1,859(11,477)n/a
Balance Sheet ($,000s)30-Sep-1930-Jun-19% Change
Cash, cash equivalents & marketable securities57,17263,533-10%
Cannabis Inventory & Biological Assets21,4747,217198%
Working Capital83,41175,93510%
Operational ResultsSep-30Jun-30Q/Q% change
Active, Registered Medical Patients10,2986,95948%

LEARN MORE: www.AleafiaHealth.com

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