Good Natured Products Inc. (TSXV: GDNP), today announced its Q1 results, recording revenues for the first quarter of $7.9 million, compared to last years figure of $3.1 million, an increase of 159%. The company also reported that it incurred a net loss of $1.9 million for the three month period.

Gross profit was recorded at $2.8 million, an increase of 35.3% of sales, versus $1.1 million, or 36.3% of sales, in Q1 of last year. Good Natured realized a variable gross profit increase of 191% to $3.2 million, or 40.8% of the company’s sales, versus $1.1 million or 36.3% of sales in Q1 of the year prior.

Selling, general, and administrative expenses however came in at $2.8 million, slightly higher than gross profits as a whole, before other expenditures were taken into account. The result is a net loss of $1.9 million for the three month period.

The company’s adjusted EBITDA for Q1 2021 was increased by $155,000, compared to a loss of $308,000 for Q12020.

Good Natured Products last traded on the TSX Venture at CAD$1.13.

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