— Neptune Wellness Solutions Inc. (NASDAQ: NEPT) swung to a profit in the third quarter of 2020 from a loss last year, helped by a gain related to a reduction in the fair value of the contingent consideration in connection to SugarLeaf Labs purchase.
— Total revenues jumped by 40% year-over-year to CAD9.18 million. This was driven by the cannabis segment despite a decline in the nutraceutical segment.
— Revenue from the cannabis segment reached CAD2.81 million. The company started the commercial operations of its Cannabis segment in March 2019.
— Revenue from the nutraceutical segment declined by 3% to CAD6.34 million.
— The adjusted EBITDA loss widened from last year, due to the investments made in the cannabis segment to grow the workforce in anticipation of increased sales volume as well as higher salaries and benefits at the corporate level.
— The company launched its hemp-derived wellness products, Forest Remedies and Ocean Remedies, in the US. A similar launch in Canada will be followed once approved by health authorities.
Most Popular
LUV Earnings: Key numbers from Southwest Airlines Q1 2021 financial results
Southwest Airlines Co. (NYSE: LUV) today reported its first quarter financial results for the period ended March 31, 2021. First quarter GAAP net income was $116 million, or $0.19 per
Infographic: American Airlines (AAL) posts Q1 2021 earnings today
Aviation company American Airlines Group Inc. (NASDAQ: AAL) reported its first-quarter 2021 earnings before regular market hours. The operating revenue for the first quarter of 2021 was down by 39% at
Infographic: How Biogen (BIIB) performed in Q1 2021
Biogen Inc. (NASDAQ: BIIB) reported first quarter 2021 earnings results today. Total revenues decreased 24% year-over-year to $2.6 billion. On a constant currency basis, revenues fell 25%. Net income attributable
