Cannabis firm C21 Investments Q1 revenue up 30%
Overview
C21 Investments Q1 revenue grows 30% yr/yr, driven by same-store sales growth
Adjusted EBITDA for Q1 up 244% yr/yr, reflecting improved retail sales
Co repurchased 184,500 shares for cancellation during the quarter
Outlook
Company plans to refile amended U.S. federal income tax returns
C21 Investments committed to long-term sustainable growth
Company challenges tax liability under Section 280E of the Internal Revenue Code
Result Drivers
SAME-STORE SALES - Revenue growth driven by same-store sales increases across dispensaries
RETAIL TRANSACTION GROWTH - 45% increase in retail transactions from Q1 last year
GROSS MARGIN IMPACT - Gross margin affected by seasonality and increased wholesale activity
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $8.60 mln |
|
Q1 EPS |
| -$0.01 |
|
Q1 Gross Margin |
| 35.0% |
|
Q1 Operating Cash Flow |
| $900,000 |
|
Press Release: ID:nCNWnY5Wpa
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