Sol Cuisine Ltd. (TSXV: VEG) today released the financial results for its second quarter of 2021 The company posted revenues of $5.6 million for the three months ended March 31, 2021. Sol meanwhile recorded a net loss of $2.0 million for the 3 months period.
The company reflected gross sales of $6.1 million in the second quarter of 2021, an increase of 50.4% compared to the second quarter of 2020. This then netted down to the aforementioned $5.6 million in revenues recorded for the period. The company meanwhile recorded a gross margin of 15.6% in the second quarter of 2021, an increase of 880bps compared to the second quarter of 2020. In dollar terms, the company reported a gross profit of $0.9 million for the three month period.
The quarter saw a loss of $2.0 million recorded, compared to a loss of $1.2 million for the year ago period. The company recorded adjusted EBITDA for the three month period of $0.82 million, compared to the year ago period’s figure of $0.77 million.
Sol Cuisine Ltd. last traded on the TSX Venture at $1.60.
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