'Inflationary Pressures Continue To Impact" Cannabis Industry, Says C21 As It Reports Net Loss And Decline In Nevada Sales
'Inflationary Pressures Continue To Impact" Cannabis Industry, Says C21 As It Reports Net Loss And Decline In Nevada Sales
C21 Investments Inc. (CSE:CXXI) (OTCQX:CXXIF) reported its financial results Friday for its first quarter of June 30, 2023. Revenue amounted to $6.6 million, up 1% compared to the fourth quarter (ended January 31, 2024) despite a 1% decline in Nevada sales over the comparative period. Retail revenues remained relatively stable, with continued robust retail transaction volume at C21's two legacy dispensaries offset by a decline in basket size as inflationary pressures continue to impact the industry with a "trade down" effect in purchases for lower-priced products.
C21投資公司（CSE:CXXI）（OTCQX:CXXIF）於2023年6月30日公佈了其第一季度財務報告。儘管與去年同期相比內華達州的銷售下降了1%，但收入達到了660萬元，較上一季度（截至2024年1月31日）上升了1%。零售收入保持相對穩定，C21兩家傳統零售店的銷售量保持強勁，但籃子大小下降，通貨膨脹對行業的影響使購買較低價格產品的「貿易下行」效應。
The vertically integrated cannabis company recently changed its fiscal reporting period to a March 31st year-end (see news release dated August 1, 2024, for audited two-month stub period) and does not have traditional sequential or year-over-year comparable reporting periods.
這家垂直整合的大麻公司最近更改了財務報告週期，以3月31日爲年度結算日（請參閱2024年8月1日發佈的新聞稿，報告了稽覈的兩個月短期）並沒有傳統的按順序或同比報告期。
"Our company reported a slight increase in revenue over Q4 (ended January 31, 2024) despite sales in Nevada declining 1% over the comparative period," stated CEO and president, Sonny Newman. "We are pleased C21 continues to outperform the state of Nevada in terms of run rate and cash flow which includes our flagship Sparks dispensary again generating more than twice the run rate of the average dispensary in the county. Our gross margin in the quarter was impacted by a variety of factors, including one-time internal inventory issues as we prepared for the launch of our new dispensary. We anticipate improved margins in the second half of the year. With the opening of our new dispensary in the last week of June, we are excited by the strong, positive customer reception and momentum that we have experienced since opening and expect continued traction moving forward."
「儘管內華達州的銷售在比較期間下降了1%，但我們公司報告的營業收入略有增長，」首席執行官兼總裁索尼·紐曼說。「我們很高興地看到，C21在運行速率和現金流方面繼續優於內華達州，其中包括我們的旗艦Sparks零售店產生的運行速率比該縣平均零售店的兩倍還要高。本季度的毛利率受到多種因素的影響，包括內部庫存問題的一次性因素，因爲我們準備推出新的零售店。我們預計下半年的利潤率將有所提高。隨着我們在6月的最後一週開設新店，我們對客戶的積極反響和發展勢頭感到興奮，並希望繼續推動增長。」
Read Also: Cannabis Co. C21 Investments Reports Stub Period Revenue Of $4.5M Following $3.5M Deep Roots Harvest Acquisition
閱讀也可了解：Cannabis Co. C21 Investments報告 Stub 期營收爲450萬元，收購深根收穫350萬美元。
First Quarter Highlights (April 1, 2024 to June 30, 2024):
第一季度亮點（2024年4月1日至6月30日）：
- Gross margin of 31%, impacted by temporary internal inventory supply issues and resulting product mix with the launch of the South Reno dispensary.
- Net loss was $1.4 million or a loss of ($0.01) per share. The company attributes net loss to lower margins, increased SG&A from non-cash share-based compensation granted in the quarter as well as non-capitalized start-up costs for the new dispensary.
- Adjusted EBITDA was $300,000.
- Cash flow from operations of $600.000; positive free cash flow of $400,000.
- Acquisition of the third dispensary closed in the quarter; the new dispensary was rebranded and operational during the final week of the quarter.
- Closed C$4.0 million convertible debenture financing, and principal funding for the acquisition of the new dispensary.
- 毛利率爲31％，受臨時內部庫存供應問題和南雷諾零售店的推出所致的產品組合影響。
- 淨虧損爲140萬元，每股虧損（0.01）美元。公司將淨虧損歸因於較低的利潤率，季度內因非現金股權授予而導致的增加, 新開設零售店的未資本化的啓動成本。
- 調整後的 EBITDA 爲300,000美元。
- 運營現金流爲60萬美元，自由現金流爲40萬美元。
- 本季度完成了第三家零售店的收購，並在本季度末對新零售店進行了重新品牌定位和運營。
- 完成了400萬加元的可轉換債券融資，併爲新零售店的收購提供了主要資金。
- Head Of Canadian Cannabis Giant Canopy Growth To Retire At The End Of This FY
- 加拿大大麻股Canopy Growth的首席執行官將於本財年末退休。
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譯文內容由第三人軟體翻譯。