Gage Cannabis Reports 2020 Revenues Of $39.9 Million, Net Loss Of $29.8 Million
Gage Growth Corp (CSE: GAGE) this morning reported its financial results for the period ended December 31, 2020. The company reported revenues of $39.9 million for the full fiscal year, along with a net loss of $29.8 million.
Full financial results are yet to be filed by the company as of the time of writing. What is known however is that the fiscal year saw gross profits of $12.3 million on revenues of $39.9 million for the fiscal year, resulting in gross margins of 30.8%. Operating expenses however amounted to $34.8 million, resulting in the loss of $29.8 million.
With respect to the fourth quarter, the company reported revenues of $10.5 million for the period, however no further color has yet been provided by the company. The company reportedly had a cash position of $45.5 million as of December 31.
Looking forward, the company provided guidance for both the first and second quarters of 2021. For the first quarter, Gage is expecting revenues between $17.0 and $18.0 million, at a “flower gross margin” of 40% to 45%. The second quarter is expected to see strong revenue growth, with total revenues between $26.0 and $31.0 million with “flower gross margins” between 45% and 50%.
Gage Growth Corp last traded at $2.45 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.
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.
