The Each day hit is a recap of the highest enterprise tales within the hashish trade for March 1, 2022.
On The Website
Hydrofarm
Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) introduced monetary outcomes for its fourth quarter and full fiscal 12 months ended December 31, 2021. Within the fourth quarter, Hydrofarm‘s internet gross sales elevated 26.3% to $110.4 million in comparison with $87.4 million. This beat the Yahoo Finance estimate for $105 million in revenues. The expansion within the quantity of merchandise bought was associated totally to just lately acquired manufacturers, which offset a decline in natural gross sales. Learn extra right here.
GrowGen
GrowGeneration Corp. (NASDAQ: GRWG) reported document fourth-quarter and full-year 2021 monetary outcomes. Revenues for GrowGen had been $90.6 million within the fourth quarter of 2021 in comparison with $61.9 million in the identical interval final 12 months. Identical-store gross sales at 26 areas open for a similar interval in 2020 and 2021 had been $40.3 million within the fourth quarter of 2021, in comparison with $46.0 million in the identical interval final 12 months, representing a 12.3% year-over-year decline. Learn extra right here.
GTI
Inexperienced Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) reported its monetary outcomes for the fourth quarter and full-year ended December 31, 2021. GTI delivered whole income for the fourth quarter of 2021 was $243.6 million, up 37.4% from $177.2 million for the fourth quarter of 2020. Web revenue for the fourth quarter of 2021 was $22.8 million or $0.10 per primary and diluted share, in comparison with internet revenue of $22.4 million, or $0.11 per share within the prior 12 months. this additionally beat the Yahoo Finance common analyst estimates for earnings of $0.08. Learn extra right here.
Cronos
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) introduced its 2021 fourth quarter and full-year enterprise outcomes. Cronos reported that within the fourth quarter it had internet income of $25.8 million a rise of $8.7 million from the identical time interval final 12 months. Cronos mentioned the rise year-over-year was primarily pushed by continued progress within the adult-use market in Canada and elevated gross sales within the Israeli medical market. As soon as once more although the corporate recorded an eye-popping internet lack of $133 million within the quarter and earnings per share of ($0.36). The inventory was slipping 2% in early buying and selling to recently promote at $3.50, down from its 12 months excessive of $11.67. Learn extra right here.
Valens
After the market closed on Monday, The Valens Firm Inc. (TSX: VLNS) (Nasdaq: VLNS) delivered its fourth quarter and monetary 12 months monetary outcomes for the interval ending November 30, 2021. Valens reported whole income of $23.3 million for the fourth quarter, which fell sequentially from the third quarter’s whole income of $24.5 million. Learn extra right here.
Grown Rogue
Grown Rogue Worldwide Inc. (CSE: GRIN) (OTC: GRUSF) reported audited outcomes for the fiscal 12 months ended October 31, 2021. Complete income for Grown Rogue in 2021 grew to $9.3 million versus $4.2 million for 2020. The corporate had a internet lack of $1 million, which dropped from the earlier 12 months’s internet lack of $2.3 million. Learn extra right here.
Village Farms
Village Farms Worldwide, Inc. (NASDAQ: VFF) introduced its monetary outcomes for the three months and 12 months ended December 31, 2021. Gross sales for the fourth quarter elevated 55% to $72.8 million versus final 12 months’s gross sales of $47.4 million for a similar time interval. This beat the common analyst estimate on Yahoo Finance for $70 million in income. The web revenue for the quarter was $2.1 million versus final 12 months’s internet revenue of $7 million. The corporate mentioned it was the thirteenth consecutive quarter of constructive adjusted EBITDA. The earnings per share for the quarter had been $0.03, which beat the Yahoo Finance common analyst estimate of $0.02. Learn extra right here.
In Different Information
Jazz Prescription drugs
Jazz Prescription drugs plc (Nasdaq: JAZZ) introduced monetary outcomes for the total 12 months and fourth quarter of 2021 and supplied monetary steering for 2022. Epidiolex/Epidyolex® year-over-year income growth1 of 29% underscores the blockbuster potential. Epidiolex/Epidyolex internet product gross sales had been $463.6 million in 2021, or $658.3 million on a proforma foundation, and $193.8 million in 4Q21. On a proforma foundation, these internet product gross sales signify progress of 29% and 35% in comparison with 2020 and 4Q20 respectively. Learn extra right here.
Acreage
Acreage Holdings, Inc. (OTCQX: ACRHF, ACRDF) introduced the appointment of Dennis Curran because the Firm’s Chief Working Officer. The Firm additionally introduced the resignation of James Doherty, Common Counsel, efficient April 30, 2022, and has launched a nationwide seek for his successor.
RIV Capital
RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) launched its unaudited condensed interim consolidated monetary statements and administration’s dialogue and evaluation for the three and 9 months ended December 31, 2021. Working revenue (earlier than fairness methodology investees and truthful worth adjustments) in Q3 2022 was $0.1 million and primarily consisted of royalty and curiosity revenue (earlier than provisions for anticipated credit score losses) of $0.8 million generated from the Firm’s debenture and royalty agreements with 10831425 Canada Ltd. d/b/a/ Greenhouse Juice Firm and NOYA Hashish Inc. respectively; offset by a rise in provision for anticipated credit score losses on curiosity and royalty receivables of $0.7 million. Learn extra right here.
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Disclosure
The statements made regarding these merchandise haven’t been evaluated by the Meals and Drug Administration. The efficacy of these merchandise has not been confirmed by FDA-approved evaluation. These merchandises are normally not meant to diagnose, cope with, treatment, or forestall any sickness. All information discovered proper right here is not going to be meant as another option to or completely different from information from well-being care practitioners. Please search the recommendation of your well-being care expert about potential interactions or completely different attainable points sooner than using any product. The Federal Meals, Drug and Magnificence Act requires this discovery.
