Choom Reports Fiscal 2021 Financials: $22.0 Million In Revenue, $21.6 Million Net Loss

Choom Holdings Inc. (CSE: CHOO) shared today its financial results for the fiscal year 2021 ending on June 30, 2021. The annual statement showed revenue came in at $22.0 million, up from fiscal 2020’s revenue of $7.4 million.

Gross margin for the year came in at 36.9%, up from last year’s 30.6%. But with operating expenses amounting to $13.0 million, the firm incurred an operating loss of $4.9 million for the year.

Further, the firm ended the fiscal year with a net loss of $21.6 million, a marginal decline from last year’s $20.3 million. The annual loss translates to $0.07 per share.

Calibrating for financial items, including impairment expenses amounting to $7.1 million and financing costs amounting to $5.0 million, adjusted EBITDA came in at a loss of $0.1 million compared to 2020’s $6.1 million loss.

The firm’s cash and cash equivalents balance at the end of the year is at $0.3 million. This puts current assets at $2.3 million while current liabilities came in at $12.4 million.

Choom Holdings Inc. last traded at $0.06 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.

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