Cannabis and Hemp Sector Ideas

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SHWZ

Schwazze Announces Second Quarter Results
Revenue Increases 467% to $30.7 Million Compared to $5.4 Million in Q1 2020

Adjusted EBITDA is $10.0 Million, 32.6% of Revenue
On Track to Meet Guidance of Annual Projected Revenue of Approximately $110 Million – $125 Million Annual Projected Adjusted EBITDA $30 Million – $36 Million

Conference Call and Webcast Scheduled for Today – 4:30 pm ET
DENVER, Aug. 16, 2021 /PRNewswire/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced financial results for its second quarter year ended June 30, 2021 (“Q2 2021”).

Financial Summary for Q2 2021:

Revenues of $30.7 million grew 467% over Q2 2020 and 58.9% over Q1 2021
Gross Margin of $14.9 million was 48.5%, 576 bps better than Q2 2020 and 1,099 bps over Q1 2021

Adjusted EBITDA of $10.0 million was 32.6% of revenue, 239 bps above Q1 2021

Net Income was $4.4 million or $0.08 Diluted Earnings per share compared to a Net Loss in Q2 2020 of ($6.6) million or ($0.16) Diluted Net Loss per share and compared to a Net Loss in Q1 2021 of ($3.6) million or ($0.09) Diluted Net Loss per share

Cash Flow from operations for the six-month period was $1.4 million
Same store sales of the seventeen Star Buds dispensaries when compared to last year were $21.5M up 16%.

Average basket size was $61.04 up 6.4%
Recorded customer visits were 357,056 up 8.9%
Note: Schwazze did not own all the assets in 2020 and are using unaudited numbers for this comparison.

Check out the link for the full story.

https://www.newcannabisventures.com/colorado-cannabis-company-schwazze-reports-30-7-million-q2-revenue/