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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.