BREAKING NEWS: THE VALENS COMPANY REPORTS RECORD Q4 (VLNS) (VLNCF) скачать в хорошем качестве

BREAKING NEWS: THE VALENS COMPANY REPORTS RECORD Q4 (VLNS) (VLNCF)

BREAKING NEWS: THE VALENS COMPANY REPORTS RECORD Q4 - RICH TV LIVE - FEBRUARY 24, 2020 - Valens GroWorks Corp. (TSXV:VLNS.V – News) (OTCQX:VLNCF – News) (the “Company“, “Valens” or “The Valens Company“), a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products, is pleased to report its financial results for its fourth quarter and fiscal year ended November 30, 2019. Key Financial Highlights of the Fourth Quarter and Fiscal Year 2019 Revenue increased to $58.1 million for the fiscal year 2019. For the fourth quarter of 2019 revenue increased to $30.6 million, an 86.0% increase over the third quarter and above the high-end of the guidance range announced on December 16, 2019. Revenue of $1.25 per gram of input in the fourth quarter of 2019, compared to $0.61per gram of input in the third quarter of 2019. Gross profit increased to $41.4 million, or 71.2% of revenue for the fiscal year 2019. For the fourth quarter of 2019, gross profit increased to $22.6 million, or 73.8% of revenue, compared to $12.8 million, or 77.8% of revenue for the third quarter of 2019. Adjusted EBITDA(1) was $27.4 million for the fiscal year 2019. For the fourth quarter of 2019, adjusted EBITDA was $17.7 million, or 57.7% of revenue, compared to adjusted EBITDA of $9.8 million, or 59.4% of revenue, in the third quarter. Strong balance sheet with $58.7 million in cash and short-term investments and a net working capital position of $88.2 million as at November 30, 2019. Tyler Robson, CEO of Valens. “In Fiscal 2019 we added significant scale to our operations and became the largest white label product development, manufacturing and third-party extraction company in Canada,” “Our multi-year extraction contracts with industry leading players positioned us as the partner of choice in the industry and drove significant revenue, gross profit and adjusted EBITDA growth. In the second half of 2019, we broadened our offering to include white label product development and we now produce a broad portfolio of safe, consistent and innovative products to help our partners build brands and differentiate themselves in the market. These white label product development initiatives contributed to record revenues in the fourth quarter of 2019 as new and existing customers pushed to roll out Cannabis 2.0 oil-based products into the market. Our margins in the fourth quarter also remained strong and were only slightly lower than our Q3 results. However, we do expect this type of margin contraction to continue in the coming quarters as we build out our infrastructure and execute on our strategic shift towards becoming a next generation product company which offers increased opportunity and greater EBITDA per input gram but a more conservative margin profile. This strategic shift is now well underway and our white label contracts now outnumber our extraction contracts, and include top-tier names such as BRNT, Shoppers Drug Mart and Iconic Brewing.” TRADING ACADEMY JOIN HERE - https://iM.Academy/corp/cjoin?enrolle... #RICHTVLIVE #VALENSCOMPANY #BREAKINGNEWS YOUTUBE SUBSCRIBE -    / richtvlive   www.richtvlive.com www.richtvshop.com   / richtvlive   https://www.linkedin.com/in/rich-de-s...   / richtvlive   https://www.instagram.com/rich_tv_liv...   / richtvlive   Disclaimer Rich TV's company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in Rich TV reports, company profiles, or other investor relations materials and presentations are subject to change. Rich TV and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time. Stock market investing is inherently risky. Rich TV is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print. We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov.