Zenabis Global Inc. (fka ZBISF)

[sam1933]

Zenabis Announces Full Year and Fourth Quarter 2020 Financial Results
10:45 PM ET 3/31/21 | Dow Jones
VANCOUVER, BC, March 31, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA) ("Zenabis" or the "Company") today announced its financial results for the year and quarter ended December 31, 2020. All amounts, unless specified otherwise, are expressed in Canadian dollars.

Full Year 2020 Highlighted Financial Results
-- Consolidated net revenue increased 95% to $59.3 million from $30.4
million in 2019;

-- Gross margin before fair value changes to biological assets and
inventories was $24.8 million or 41.8% of net revenue in 2020, compared
to $13.7 million or 44.9% of net revenue in the prior year;

-- Consolidated Adjusted EBITDA for the year totaled $3.5 million, compared
to negative $38.7 million in 2019;

-- Loss from operations of $2.3 million compared to $59.2 million in the
prior year;

-- Consolidated net loss from continuing operations totaled $54.9 million or
$0.10 per share, fully diluted, compared to $72.6 million or $0.30 per
share, fully diluted, in 2019;

-- Consolidated net loss for 2020 totaled $70.5 million or $0.13 per share,
fully diluted, compared to $127.0 million or $0.53 per share, fully
diluted, in 2019;

-- Loans and borrowing decreased $88.2 million from $153.9 million to $65.7
million;

-- Net cash used in operations was $17.5 million compared to $78.6 million
in 2019.
see more: https://www.otcmarkets.com/stock/ZBISF/news/story?e&id=1853346