Press Release: Crescita Reports Third Quarter -2-
Press Release: Crescita Reports Third Quarter -2-
----------------------------- -------- ----- ----------- ----- ---------- ----- -----------
Adjusted EBITDA(1) (471) 4,316 (653) 3,647
----------------------------- -------- ----- ----------- ----- ---------- ----- -----------
Earnings per share
Basic $ (0.04) $ $ 0.20 $ $ (0.10) $ $ 0.03
Diluted $ (0.04) 0.19 (0.10) 0.03
------------------------ --- -------- ----- ----------- ----- ---------- ----- -----------
Weighted average number
of common shares
outstanding
Basic 20,761,085 20,648,448 20,667,337 20,665,803
Diluted 20,761,085 21,796,236 20,667,337 21,995,583
------------------------ ------------- ----- ----------- ----- ---------- ----- -----------
Selected Balance Sheet
Information
Cash and cash equivalents,
end of period 12,236 13,856
Selected Cash Flow
Information
Cash provided by (used in)
operating activities (189) 4,693 (1,128) 5,043
Cash used in investing
activities (581) (1) (624) (62)
Cash used in financing
activities (104) (90) (306) (382)
----------------------------- -------- ----- ----------- ----- ---------- ----- -----------
----------------------------- -------- ----- ----------- ----- ---------- ----- ----------- 調整後EBITDA(1)(471)4316(653)3647----------------------------- -------- ----- ----------- ----- ---------- ----- ----------- 每股收益基本$(0.04)$$0.20$$(0.10)$0.03稀釋$(0.04)0.19(0.10)0.03------------------------ --- -------- ----- ----------- ----- ---------- ----- ----------- 加權平均數普通股傑出的基本20,761,085 20,648,448 20,667,337 20,665,803稀釋20,761,085 21,796,236 20,667,337 21,995,583------------------------ ------------- ----- ----------- ----- ---------- ----- ----------- 選定資產負債表信息現金和現金等價物，期末12,236 13,856選定現金流信息提供的現金(用於)經營活動(189)4,693(1,128)5,043用於投資的現金活動(581)(1)(624)(62)用於融資的現金活動(104)(90)(306)(382)----------------------------- -------- ----- ----------- ----- ---------- ----- -----------
Revenue
收入
We have three reportable segments: 1) Commercial Skincare ("Commercial"), which manufactures and sells branded non-prescription skincare products in both the Canadian and international markets, while also commercializing Pliaglis(R) and New Cellular Treatment Factor(R) ("NCTF") in Canada; 2) Licensing and Royalties ("Licensing"), which includes revenues generated from licensing our intellectual property related to Pliaglis or to our transdermal delivery technologies; and 3) Manufacturing and Services ("Manufacturing"), which includes revenue from contract manufacturing and product development services.
我們有三個需要報告的部門：1)商業護膚品(“商業”)，它在加拿大和國際市場製造和銷售品牌非處方藥護膚品，同時還在加拿大商業化Pliaglis(R)和新細胞治療因子(“NCTF”)；2)許可和特許權使用費(“許可”)，包括通過許可我們與Pliaglis或我們的透皮傳遞技術相關的知識產權而產生的收入；以及3)製造和服務(“製造”)。
For the three months ended September 30, 2021, total revenue was $2,993 compared to $7,301 for the three months ended September 30, 2020, representing a decrease of $4,308. The decrease came primarily from our Licensing segment in the amount of $4,680, largely due to the impact of the Taro Amendment of $4,483 in Q3-F2020 which did not repeat. Revenue from our Commercial segment posted an overall decrease of $219, mainly due to lower export and protective personal equipment sales year-over-year, while the performance of our core
截至2021年9月30日的三個月，總收入為2993美元，而截至2020年9月30日的三個月為7301美元，減少了4308美元。減少主要來自我們的許可部分，金額為4,680美元，主要是由於2020年第三季度至財年4,483美元的太郎修正案的影響，該修正案沒有重複。我們商業部門的收入總體減少了219美元，主要是因為出口和防護個人用品的銷售額同比下降，而我們的核心業務表現
brands continued to improve in the Canadian market. These reductions were partly offset by an increase of $591 in our Manufacturing segment from higher volumes with new and existing clients.
品牌在加拿大市場繼續改善。由於新客户和現有客户數量增加，我們的製造部門增加了591美元，部分抵消了這些減少。
Gross Profit
毛利
For the three months ended September 30, 2021, gross profit was $1,525, representing a gross margin of 51.0%, compared to $6,129 and 83.9%, respectively, for the three months ended September 30, 2020. The decrease of $4,604 in gross profit was mainly due to the full margin benefit of the Taro Amendment recognized in Q3-F2020, which did not repeat, and to a lesser extent from the uptake in the Manufacturing segment sales year-over-year. The decrease in gross margin of 32.9% was mainly driven by the decrease in full-margin licensing revenue and the unfavourable revenue mix of having higher revenue in our Manufacturing segment year-over-year.
截至2021年9月30日的三個月，毛利潤為1,525美元，毛利率為51.0%，而截至2020年9月30日的三個月的毛利率分別為6,129美元和83.9%。毛利減少4,604美元，主要是由於在2020年第三季度至第四財年確認的太郎修正案的全部利潤率效益，這並沒有重複，較小程度上是由於製造部門銷售額的同比增長。毛利率下降32.9%，主要是由於全利潤許可收入下降，以及製造部門收入同比增加的不利收入組合所致。
Operating Expenses
運營費用
For the three months ended September 30, 2021, total operating expenses were $2,385 compared to $2,259 for the three months ended September 30, 2020, representing a slight increase of $126. The increase was primarily driven by higher selling, general and administrative ("SG&A") expenses of $277, mainly reflecting investments in advertising and promotion to grow our brands, in various key positions across the organization, incremental legal fees in support of business development activities, and lower government subsidies in Q3-F2021 versus Q3-F2020. These additional costs were partly offset by lower research and development ("R&D") spend of $86 and by lower depreciation and amortization expense of $65.
截至2021年9月30日的三個月，總運營費用為2385美元，而截至2020年9月30日的三個月為2259美元，略有增加126美元。這一增長主要是由於銷售、一般和行政(“SG&A”)費用增加，為277美元，主要反映在廣告和促銷方面的投資，以發展我們的品牌，在整個組織的各個關鍵職位，支持業務發展活動的遞增法律費用，以及與2020年第三季度相比，2021年第三季度政府補貼減少。這些額外成本被研究和開發(R&D)支出減少86美元以及折舊和攤銷費用減少65美元部分抵消。
Other (Income) Expenses
其他(收入)費用
In Q3-F2020, we recognized $668 (US$500) in connection with the termination of a non-financial clause as part of the Taro Amendment regarding the supply of Pliaglis to non-U.S. territories.
在2020年第三季度至財年，我們確認了668美元(500美元)與終止一項非金融條款有關的費用，該條款是《太郎修正案》關於向非美國領土供應Pliaglis的一部分。
Cash and Cash Equivalents
現金和現金等價物
Cash and cash equivalents were $12,236 at September 30, 2021, reflecting a net change for the quarter of $(847), mainly due to the investment in a secured convertible promissory note in the amount of $500.
截至2021年9月30日，現金和現金等價物為12236美元，反映出該季度的淨變化為847美元，主要是由於對有擔保的可轉換本票的投資，金額為500美元。
Non-IFRS Financial Measures
非國際財務報告準則財務衡量標準
We report our financial results in accordance with International Financial Reporting Standards ("IFRS"). However, we use certain non-IFRS financial measures to assess our Company's performance. We believe these to be useful to management, investors, and other financial stakeholders in assessing Crescita's performance. The non-IFRS measures used in this press release do not have any standardized meaning prescribed by IFRS and are therefore not comparable to similar measures presented by other issuers. These measures should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with IFRS. The following are the Company's non-IFRS measures along with their respective definitions:
我們根據國際財務報告準則(“IFRS”)報告我們的財務業績。然而，我們使用某些非國際財務報告準則的財務指標來評估我們公司的業績。我們相信，這些對管理層、投資者和其他財務利益相關者在評估Crescita的業績時都是有用的。本新聞稿中使用的非國際財務報告準則計量沒有國際財務報告準則規定的任何標準化含義，因此無法與其他發行人提出的類似計量進行比較。這些措施應被視為補充性質，而不是取代根據“國際財務報告準則”編制的相關財務信息。以下是該公司的非國際財務報告準則計量及其各自的定義：
1. EBITDA is defined as earnings before interest, income taxes, depreciation,
and amortization.
2. Adjusted EBITDA is defined as earnings before interest, income taxes,
depreciation and amortization, other (income) expenses, share-based
compensation costs, goodwill and intangible asset impairment, and foreign
exchange (gains) losses, as applicable.
1.EBITDA定義為扣除利息、所得税、折舊、和攤銷。2.調整後的EBITDA定義為扣除利息、所得税、折舊和攤銷，其他(收入)費用，以股份為基礎薪酬成本、商譽和無形資產減值，以及外國匯兑(收益)損失(如適用)。
Management believes that Adjusted EBITDA is an important measure of operating performance and cash flow and provides useful information to investors as it highlights trends in the underlying business that may not otherwise be apparent when relying solely on IFRS measures. Below is a reconciliation of EBITDA and Adjusted EBITDA to their closest IFRS measures.
管理層認為，調整後的EBITDA是衡量經營業績和現金流的重要指標，為投資者提供了有用的信息，因為它突出了基礎業務的趨勢，而這些趨勢在僅依靠國際財務報告準則衡量時可能不會很明顯。下面是EBITDA和調整後的EBITDA與其最接近的國際財務報告準則衡量標準的對賬。
Three months ended Nine months ended
September 30, September 30,
=========================== ------------------------ -----------------------
2021 2020 2021 2020
----------- ----------- ------------- --------
In thousands of CAD dollars $ $ $ $
=========================== =========== =========== ============= ========
Net income (loss) (900) 4,208 (2,048) 629
Adjust for:
--------------------------- ----------- ----------- ------------- --------
Depreciation and
amortization 350 415 1,032 1,243
Interest (income) expense,
net 27 (5) 40 (10)
Deferred income tax expense - 399 - 579
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EBITDA (523) 5,017 (976) 2,441
--------------------------- ----------- ----------- ------------- --------
Adjust for:
--------------------------- ----------- ----------- ------------- --------
Share-based compensation 39 31 149 121
Foreign exchange (gain)
loss 13 (64) 174 (165)
Impairment of intangible
assets - - - 1,918
Taro Amendment - (668) - (668)
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Adjusted EBITDA (471) 4,316 (653) 3,647
--------------------------- ----------- ----------- ------------- --------
截至三個月截至九個月九月三十號，九月三十號，=========================== ------------------------ ----------------------- 2021 2020 2021 2020 ----------- ----------- ------------- -------- 以數千加元為單位$=========================== =========== =========== ============= ======== 淨收益(虧損)(900)4,208(2,048)629針對以下因素進行調整：--------------------------- ----------- ----------- ------------- -------- 折舊和折舊攤銷350 415 1,032 1,243利息(收入)支出，淨額27(5)40(10)遞延所得税費用-399-579--------------------------- ----------- ----------- ------------- -------- EBITDA(523)5,017(976)2,441--------------------------- ----------- ----------- ------------- -------- 針對以下因素進行調整：--------------------------- ----------- ----------- ------------- -------- 股票薪酬39 31 149 121外匯(收益)虧損13(64)174(165)無形資產減值資產-1,918太郎修正案--(668)-(668)--------------------------- ----------- ----------- ------------- -------- 調整後EBITDA(471)4316(653)3647--------------------------- ----------- ----------- ------------- --------
Caution Concerning Limitations of Summary Financial Results Press Release
關於財務業績摘要新聞稿限制的警告
This summary earnings press release contains limited information meant to assist the reader in assessing Crescita's performance, but it is not a suitable source of information for readers who are unfamiliar with Crescita and is not in any way a substitute for the Company's Condensed Consolidated Interim Financial Statements and notes thereto, MD&A and our latest Annual Information Form ("AIF").
本摘要收益新聞稿包含的信息有限，旨在幫助讀者評估Crescita的業績，但對於不熟悉Crescita的讀者來説，它不是一個合適的信息來源，也不能以任何方式替代公司的簡明綜合中期財務報表及其註釋、MD&A和我們最新的年度信息表(“AIF”)。
About Crescita Therapeutics Inc.
關於Crescita治療公司
Crescita (TSX: CTX and OTC US: CRRTF) is a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house R&D and manufacturing capabilities. The Company offers a portfolio of high-quality, science-based non-prescription skincare products and early to commercial stage prescription products. We also own multiple proprietary transdermal delivery platforms that support the development of patented formulations to facilitate the delivery of active ingredients into or through the skin.
Crescita(多倫多證券交易所代碼：CTX和場外交易美國市場代碼：CRRTF)是一家以增長為導向、創新驅動的加拿大商業皮膚病公司，擁有內部研發和製造能力。該公司提供一系列高質量、以科學為基礎的非處方藥護膚品和早期到商業階段的處方藥產品。我們還擁有多個專有的經皮給藥平臺，支持專利配方的開發，以促進活性成分進入或通過皮膚的輸送。
Forward-looking Statements
前瞻性陳述
譯文內容由第三人軟體翻譯。