C21 Investments Records US$9.0 Million In Revenue, Net Income For Fiscal Q2 2022

C21 Investments Inc. (CSE: CXXI) released today its fiscal second-quarter 2022 financial results, which saw the company post US$9.0 million in revenue. This is a marginal decrease from Q1 2022’s revenue of US$9.2 million.

The cannabis firm said that the 1.9% decrease in quarterly revenue is “in line with similar industry trends seen in the Western markets”.

The gross margin for the quarter ended at 52.3%, up from last quarter’s 48.6%. However, the quarterly net income dipped to US$3.7 million from US$4.4 million for the same comparable period last quarter. This translates to US$0.03 earnings per share for the quarter.

Adjusted EBITDA meanwhile came in at US$3.3 million for the three-month period compared to Q1 2022’s US$3.1 million.

The firm ended the quarter with a cash position of US$4.2 million. This puts the company’s current assets balance at US$12.3 million while current liabilities ended at US$13.6 million.

The cannabis company said it has completed the first phase buildout of its cultivation expansion and is expecting the first harvest next week.

C21 Investments last traded at $0.92 on the CSE.


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.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

A Look at C21 Investments Q2 Financials

Last night C21 Investments (CSE: CXXI) released their second quarter earnings. They showed a 28.6%...

Friday, September 13, 2019, 02:40:40 PM

C21 Investments: Results.. Are Going To Show Up Any Day Now

C21 Investments (CSE:CXXI) has managed to weather the cannabis equity collapse much better than its...

Wednesday, July 8, 2020, 01:32:00 PM

C21 Sees Revenue Of US$8.2 Million For Q3 2021, Net Income

C21 Investments (CSE: CXXI) this morning posted its third quarter 2021 financial results, recording revenue...

Thursday, December 16, 2021, 08:57:51 AM

C21 Investments & The Silver State Acquisition

C21 Investments (CSE: CXXI) has been all the rage on Fintwit for the last couple...

Monday, March 18, 2019, 01:00:24 PM

C21 Investments Reports Q2 Revenues Of US$9.4 Million, Net Loss

C21 investments (CSE: CXXI) this morning reported its second quarter financial results for the period...

Thursday, September 24, 2020, 08:51:59 AM