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Replies to post #17806 on Charlotte's Web Holdings Inc (CWBHF)
Zippie
05/10/21 10:56 AM
#17809 RE: GE_Jim #17806
JohnCM
05/11/21 12:45 PM
#17830 RE: GE_Jim #17806
Q1-2021 Financial Highlights • Consolidated revenue increased 9.1% to $23.4 million vs. $21.5 million in Q1-2020 • DTC eCommerce sales increased 14.5% year-over-year and contributed 68.9% of Q1 revenue • B2B net revenue decreased 1.4% year-over-year. Excluding non-retail B2B hemp drying services, comparable B2B retail sales increased 11.0% and expanded market share • Gross profit of $13.7 million, or 58.4% of consolidated revenue • Operating expenses were 2.9% higher year-over-year and 15.2% lower from Q3-2020 in line with the cost reduction plan implemented Q4-2020 • Adjusted EBITDA loss of $4.7 million vs. loss of $5.7 million in Q1-2020 • $35.0 million cash (plus $10.8 million pending IRS tax receivable) and $95.6 million working capital on March 31, 2021 • $10 million unused line of credit with JPMorgan extendable to $20 million