Sunday, September 14, 2025

PharmaCielo Records $0.4 Million In Revenue, $7.2 Million Net Loss In Q2 2021

PharmaCielo Ltd. (TSXV: PCLO) reported today its financial performance for the quarter ending June 30, 2021. The results highlighted a quarterly revenue of $0.4 million, down from Q2 2020’s revenue of $1.2 million.

However, the cost of goods sold exceeded the revenue for the quarter primarily due to inventory impairment amounting to $0.7 million. This led the firm to end with a negative gross margin of $0.8 million compared to a gross profit of $0.2 million for the same comparable period last year.

The company further incurred expenses beyond the revenue, including selling, general, and administrative expenses north of $4.9 million. This resulted in a net loss of $7.2 million for the quarter, marginally up from last year’s net loss of $7.7 million. The quarterly loss translates to $0.05 per share.

At the end of the first half of 2021, the cash and cash equivalents balance is at $11.0 million coming from a starting balance of $8.9 million at the end of 2020. While the firm gained proceeds from shares issued amounting to $13.5 million, it’s partially offset by the losses incurred for six months.

As of June 30, 2021, the company’s current assets have a total balance of $14.3 million while its current liabilities ended at $9.6 million.

The cannabis firm expects revenue growth to accelerate later in the year coming from expected higher recurring revenue from sales agreements and initial commercial sales, as well as better margin profiles from additional value-added products.

PharmaCielo last traded at $1.29 on the TSX Venture.


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

Soma Gold Q2 Earnings: Production Drops Amid Growth Effort

Guanajuato Q2 Earnings: Things Are Going Backwards

Electric Metals: The Sole US Domestic Source Of A Critical Mineral?

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Stifel Reinitiates Coverage On Eight Cannabis Operators

Earlier this week, Stifel released a new report on cannabis operations, focused predominantly on US-based...

Friday, July 24, 2020, 03:30:00 PM

PharmaCielo Receives Approval For US$3 Million Import Contract

PharmaCielo Ltd (TSXV: PCLO) has become one of the first venture listed equities to receive...

Friday, January 17, 2020, 09:02:20 AM

Khiron Receives National Strategic Project Status From Colombian Government

This morning Khiron Life Sciences Corp (TSXV: KHRN) announced they received the status of National...

Tuesday, September 22, 2020, 09:43:55 AM

PharmaCielo Enters Supply Agreement With Xphyto Therapeutics

PharmaCieolo Ltd. (TSXV: PCLO) has announced a supply agreement with Xphyto Therapeutics Corp (CSE: XPHY)....

Monday, January 27, 2020, 11:04:28 AM

PharmaCielo Conducts $4.0 Million Bought Deal Financing

PharmaCielo Ltd (TSXV: PCLO) is the latest firm to announce a bought deal financing. The...

Wednesday, June 10, 2020, 08:32:24 AM