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

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

First Majestic Posts Record Quarterly Silver Production In Q3

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

Related News

Empower Clinics Sees Senior VP Of Business Development Resign Effective Immediately

Empower Clinics (CSE: CBDT) this morning announced the immediate resignation of a member of their...

Monday, March 1, 2021, 07:52:33 AM

Empower Clinics Receives Further $5.0 Million From Warrant Exercises

Empower Clinics (CSE: CBDT) has seen significant capital inflows as a result of the exercise...

Thursday, March 4, 2021, 08:39:42 AM

Empower Clinics Reports 2020 Revenues Of $3.2 Million, Net Loss Of $17.1 Million

Empower Clinics (CSE: CBDT) yesterday released its fourth quarter and full year financial results. The...

Friday, July 2, 2021, 09:07:57 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

Empower Clinics Reports Run Rate Of US$10.0 Million For Kai Medical Lab Subsidiary

Empower Clinics (CSE: CBDT) this morning announced that one of its subsidiaries, KAI Medical Laboratory,...

Monday, March 8, 2021, 08:32:59 AM