Delta 9 Cannabis Announces $61.8 – $62.6 Million Annual Revenue Guidance For 2021
Delta 9 Cannabis (TSX: DN) provided on Wednesday its guidance for the fourth quarter and full-year financial results of 2021, ahead of its full release on March 31, 2022. The firm anticipates 2021 revenue to be between $61.8 million and $62.6 million.
The range of expected annual revenue is an increase from 2020’s $52.1 million in revenue.
For Q4 2021, the firm is anticipating quarterly revenue to land between $16.6 million and $17.4 million, a 9% – 14% increase from Q3 2021’s revenue of $15.2 million and a 17% – 23% increase from Q4 2020’s revenue of $14.2 million.
“We are anticipating reporting strong year-over-year and sequential revenue results for the fourth quarter of 2021,” said CEO John Arbuthnot. “Delta 9 is working to differentiate itself from its peers by posting strong financial and operating results and continuing to grow its revenue streams from its three core business units.”
In the previous quarter, the cannabis firm also posted a net loss of $0.8 million and an adjusted EBITDA of $0.2 million.
Delta 9 Cannabis last traded at $0.295 on the TSX.
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