Neighbourly Pharmacy Records $306.5 Million In Revenue, $90.5 Million Net Loss for FY 2021

Neighbourly Pharmacy Inc. (TSX: NBLY) announced today its financial results for the fiscal year that ended March 27, 2021, recording $306.5 million in revenue. This is an increase from last year’s revenue of $186.6 million.

The financials recorded gross margin for the year at 37.4%, a decline from the previous year’s 38.7%. The company relayed that the temporary increase in same-store sales in 2020 was countered by the decreasing trend in sales following the implementation of pandemic measures and prescription drug shortages.

Neighbourly Pharmacy posted a net loss of $90.5 million for the year, compared to last year’s net loss of $23.3 million. The annual net loss translates to a $19.88 loss per share. 

Looking at the financials, the majority of the loss can be attributed to the changes in the fair value of the company’s financial liabilities. With this in mind, the firm’s adjusted EBITDA for the year was $35.1 million, a climb from last year’s $21.2 million.

The company ended the fiscal year with $46.0 million in cash, up from last year’s $4.0 million.

Neighbourly Pharmacy Inc. last traded at $26.20 on the TSX.

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.

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