Columbia Care Reports Preliminary Q4 Revenues Of $76.1 Million, Provides 2021 Guidance

Columbia Care (CSE: CCHW) this morning reported preliminary fourth quarter and full year 2020 financial results, while also issuing 2021 guidance. The company provided preliminary revenue figures of $76.1 million, along with adjusted EBITDA of $8.3 million for the fourth quarter.

Preliminary revenue figures have indicated that the company has improved revenue by 56% on a quarter over quarter basis, while gross profits, reported at $30.4 million, improved 76% quarter over quarter. Adjusted EBITDA meanwhile improved by 170%, while the firms cash position, pegged at $61.1 million, is up 45% quarter over quarter.

Looking at the full year, revenue grew to $179.5 million, up 132% from the $77.5 million filed for FY2019, while gross profit improved by 219% to $65.8 million. Adjusted EBITDA meanwhile is reportedly negative $4.1 million, an improvement from the negative $47.0 million reported for 2019.

Notably, the firm did not provide a net loss or income figure for the quarter, or the fiscal year.

Looking forward, the company has provided guidance for fiscal year 2021, with revenues estimated to be between $500 million and $530 million, while margins are expected to be in excess of 47%. Adjusted EBITDA meanwhile is pegged between $95 million and $105 million. Notably, the guidance provided is on a combined basis, gross of discounts. It also assumes the closing of the Green Leaf Medical acquisition in the third quarter.

Columbia Care last traded at $9.05 on the CSE.


Information for this briefing was found via Sedar and Columbia Care Inc. 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

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Canaccord Lowers Targets On Numerous Top Level Cannabis Equities

On February 4th, Canaccord Genuity came out with their cannabis fourth quarter 2021 preview. On...

Monday, February 7, 2022, 01:30:00 PM

Columbia Care Acquires Colorado Cannabis Firm For US$42 Million

Columbia Care Inc. (CSE: CCHW) announced last night that it has completed the acquisition of...

Tuesday, November 2, 2021, 10:19:00 AM

US Cannabis: Earnings Preview For The Oncoming Fourth Quarter Results

March is turning out to be a busy month in public cannabis, with many of...

Monday, March 8, 2021, 04:10:00 PM

Cannabis Earnings: Cantor Fitzgerald Adjusts Ratings Ahead Of Earnings

Last week, Pablo Zuanic from Cantor Fitzgerald released his second-quarter estimates and updated his 12-month...

Wednesday, August 11, 2021, 09:56:00 AM

Canaccord Reiterates Columbia Care As A Cannabis Top Pick

Columbia Care (NEO: CCHW) reported its first quarter financial results on May 17th. The company...

Thursday, May 20, 2021, 04:41:00 PM