Cannabis Earnings Roundup: 4Front, WeedMD, FSD Pharma, 1933 IndustriesPosted by On

As cannabis earnings season continues, Benzinga took a look at the quarterly prints from four companies in the sector Monday. 

4Front Ventures Reports $6.86M Quarterly Net Loss

4Front Ventures Corp. (CSE: FFNT) (OTC: FFNTF) posted third-quarter financial results Friday that included systemwide pro forma revenue of $16.9 million, up by 20% from the previous quarter.

The company reported IFRS revenue of $7.52 million and an adjusted EBITDA loss of $4.61 million.

The quarterly net loss was $6.86 million versus a net loss of $2.64 million in the same quarter of 2018.

4Front Ventures finished the quarter with $12.4 million in cash and said it expects to end November with around $13 million in cash and undrawn loans.

The stock was down 1.73% at 40 cents at the time of publication Monday. 

WeedMD’s Shares Plummet After Reporting Q3 Results 

Cannabis company WeedMD Inc. (TSX-V: WMD) (OTC: WDDMF) reported third-quarter net revenue Friday of CA$6.7 million ($5.04 million), down from CA$7.98 million one quarter earlier.

WeedMD disclosed a quarterly adjusted EBITDA loss of CA$1.97 million versus an adjusted EBITDA loss of CA$662,822 in the prior quarter. 

The company posted a net and comprehensive loss of CA$13.4 million versus net and comprehensive income of CA$12.62 million in the previous quarter.

WeedMD shares were down 8.06% at 76 cents at the time of publication. 

FSD Pharma’s Stock Falls Upon Reporting Quarterly Net Loss

FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDFreported third-quarter revenue Friday of CA$12,805 versus revenue of CA$13,833 one year ago. 

The company posted a net loss of CA$16.7 million or CA$2.20 per share.

The stock was down 4.3% at $4.60 at the time of publication. 

1933 Industries Reports Higher 2019 Loss 

Vertically integrated cannabis consumer packaged goods company 1933 Industries Inc. (CSE: TGIF) (OTC: TGIFF) reported fourth-quarter and annual financial results Thursday, with annual revenue of CA$18.06 million, higher than 2018’s CA$12.55 million.

The company’s annual net loss of CA$19.11 million is more than triple the CA$5.73-million figure one year ago. 

The adjusted annual EBITDA loss of CA$10.11 million is an increase over its CA$3.08-million loss in 2018. 

1933 Industries shares were trading up 0.98% at 17 cents at the time of publication. 

© 2019 Benzinga does not provide investment advice. All rights reserved.

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