The CLSH financial reports are telling us a very attractive story of a growing business that is delivering increasingly positive results this year. Early investors here who recognize the beginning of a winning game plan have a nice opportunity right now to enter and accumulate ahead of upcoming reports which should continue the positive trend now established for CLSH.
From this week's news:
"First quarter results represent the beginning of what we expect to be a historic year for our company," commented Andrew Glashow , President and COO of CLS Holdings. "These results continue to support and validate our strategy in Nevada , including at our Oasis Cannabis dispensary and within our City Trees line of branded products. Despite the number of records established during Q1 2020, we believe our operations have room to grow and we are excited about the opportunities going forward."
Q1 2020 Highlights
Record consolidated revenue of $2.9 million compared to $1.7 million in fiscal Q1 2019, an increase of $1.2 million or 72.7%.
Record consolidated gross profit of $1.4 million , a 147.7% increase over the same period a year earlier.
Record consolidated gross profit margin of 50.6% compared to 35.3% in fiscal Q1 2019.
Consolidated net loss of $1.4 million or $0.01 per share compared to a net loss of $16.7 million or $0.23 per share in fiscal Q1 2019.
Cash and cash equivalents of $5.9 million as of August 31, 2019 .
Record revenue from the Company's Oasis Cannabis dispensary of $2.1 million , a 96.6% increase over fiscal Q1 2019 revenue of $1.1 million .
Record Oasis Cannabis gross profit margin of 48.3% compared to 35.9% in fiscal Q1 2019.
A 98.4% increase in dispensary customers, from 26,438 (294 average per day) in fiscal Q1 2019 to a record 52,448 (583 average per day) in fiscal Q1 2020.
Record revenue per SF of $397 compared to $205 per SF during the same period a year earlier, an increase of 93.6%.
Record revenue from the Company's City Trees' branded products division of $0.8 million compared to $0.6 million in fiscal Q1 2019, an increase of $0.2 million or 33.6%.
Record City Trees branded products gross profit margin of 56.2% compared to 34.1% in fiscal Q1 2019.
