C21 Investments Posts $36.1 Million In Unaudited 2021 Revenues, Net Loss Of $6.1 Million

C21 Investments Inc. (CSE: CXXI) last night announced their unaudited results for the company’s fiscal year ended on January 31, 2021. Total revenues of $36.1 million were recorded while C21 incurred a net loss of $6.1 million for the year.

Revenues of $36.1 million for the fiscal year resulted in gross profits before fair value adjustments of $17.1 million, while gross margin came in at 47%. Expenses meanwhile amounted to $11.1 million, resulting in income from operations of $7.5 million, an improvement of $8.7 million over last year.

After the firms other expenses for the year, the company posted a net loss of $6.1 million. Meanwhile, adjusted EBITDA of $9.8 million was recorded for the year, an increase of 82% over last year.

C21 reported their operating cash flow at $12.0 million, which is an increase of 73% over last year’s figure of $6.9 million. C21’s cash position at year-end was recorded at $6.2 million, an increase from $3.4 million at the end of Q3. The company reduced its liabilities to $15.7 million from $35.4 million at the end of the third quarter.

On a quarterly basis, the company reported revenue of $9.1 million for the three month period ended January 31, 2021, along with gross profits before fair value adjustments of $4.9 million. The company also posted an income from operations of $3.0 million for the quarter, and a net loss of $6.6 million. Adjusted EBITDA for the three month period meanwhile came in at $2.9 million.

C21 Investments Inc. last traded on the CSE at CAD$1.48.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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