Fire & Flower Holdings Corp. (TSX: FAF) released today its financial results for the fiscal quarter ended October 30, 2021. The report highlighted a quarterly revenue of $45.4 million, an increase from $33.1 million in revenue for the same comparable period last year.
Breaking down the topline revenue figure, retail sales contributed $33.7 million, wholesale revenue contributed $7.9 million, while the remaining $3.8 million came from the firm’s digital platform sales.
The gross margin for the quarter came in at 34.6%, comparably unchanged from 34.7% in the previous year. However, the company still ended with a net loss of $2.0 million compared to its net loss last year of $25.7 million. The quarterly loss translates to $0.06 per share.
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Adjusted EBITDA for the quarter ended at $2.1 million, marginally up from $2.0 million in fiscal Q3 2020.
At quarter’s end, the company has a cash and cash equivalents balance of $16.5 million coming from a beginning balance of $30.6 million at the start of the fiscal year. Most of the cash outflow during the first nine months is due to acquisitions and business combinations.
Current assets came in at $48.7 million while current liabilities ended at $35.5 million.
Days ago, the cannabis firm announced the plans to acquire Pineapple Express Delivery for $12.3 million.
Fire & Flower Holdings last traded at $6.07 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
