Empower Clinics Posts Revenues Of $0.4 Million For Q3

Empower Clinics (CSE: CBDT) this morning reported its third quarter financial results, posting revenues of $0.4 million for the three month period. Revenues were down substantially on a quarter over quarter basis, yet the company managed to post a positive net income of $2.3 million.

Revenues fell a whopping 52.9% on a quarter over quarter basis, dropping from $0.9 million to $0.4 million. Rather than identify the reasoning behind the significant shortfall, the company instead focused on the year over year growth, with revenues climbing from $0.1 million last year to $0.4 this year.

Gross margins for the quarter came in at $0.4 million. The company posted a loss from operations of $0.9 million, lead by operating expenses of $0.7 million and share based payments of $0.2 million. The firms loss from operations narrowed on a quarter over quarter basis, improving from $1.4 million.

Despite the loss from operations, the company saw other income of $3.2 million, primarily lead by a gain in the fair value of certain warrant liabilities to the tune of $3.1 million. Overall, the company posted a net income of $2.3 million for the three month period as a result. Adjusted EBITDA meanwhile was negative at $0.3 million.

Empower Clinics last traded at $0.335 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

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Empower Clinics Enters Pilot Program With Save-On-Foods In BC

Empower Clinics (CSE: CBDT) this morning announced that it will be conducting a pilot program...

Tuesday, July 27, 2021, 08:01:01 AM

Empower Clinics Wraps Up Kai Medical Laboratory Expansion

Empower Clinics Inc. (CSE: CBDT) shared this morning the completion of the expansion of its...

Wednesday, August 4, 2021, 09:37:00 AM

Empower Clinics Partners With MediPro To Sell COVID-19 Test Kits In Canada

Empower Clinics (CSE: CBDT) this morning announced that it has secured a medical device establishment...

Wednesday, February 10, 2021, 08:48:04 AM

Empower Clinics Eyes Selling Sun Valley Cannabis Assets Back To Founders For US$1 Million

Empower Clinics Inc. (CSE: CBDT) announced today that it has signed a non-binding term sheet...

Wednesday, July 21, 2021, 08:29:00 AM

Empower Clinics Enters Strategic Review After Cancelling Financing

Empower Clinics (CSE: EPW), a once-popular healthcare name among investors that provided diagnostic testing during...

Tuesday, March 21, 2023, 08:29:32 AM