Supreme Cannabis Reports 373% Recreational Revenue Spike YoYPosted by On

The Supreme Cannabis Co. Inc. (TSX: FIRE) (OTCQX: SPRWF) revealed its recreational net revenue spiked 373% year-over-year, and 27% sequentially to $7.3 million in the last quarter of this fiscal year.

Over the fourth quarter, 18 stock-keeping units (SKUs) were launched within the Canadian market. 

In addition, Supreme disclosed Thursday, there are 36 active retail SKUs listed.

The Toronto-based company also reported losing over $139 million in the fiscal year ending June 30.

USDA Certified Organic Tinctures and salves

“Fiscal 2020 was an important transitional year for Supreme Cannabis where we streamlined our operations, reorganized our team, and expanded our portfolio of brands and products that will drive sustainable revenue growth,” commented Supreme president and CEO Beena Goldenberg.

Goldenberg was appointed to the position in April, succeeding Colin Moore.

Earnings Breakdown

  • Net revenue amounted to $9.5 million in the fourth quarter, down by approximately 2% sequentially
  • Over the year, the net…

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