The Green Organic Dutchman (TSX: TGOD) this morning released unaudited revenue figures for the fourth quarter of 2021, while also providing an update to its guidance. Preliminary revenue has been reported at $10.9 million in the fourth quarter, a significant increase from the $4.4 million posted in the third quarter.
Canada operations and sales is reportedly the key driver of sales here, with revenues from the segment amounting to $8.6 million for the quarter, a 91% quarter over quarter increase.
Despite the improving results, the company closed this mornings announcement off by dropping guidance for the period of November 1, 2020 through to October 31, 2021. Previously set at $61.5 million in anticipated revenues, that figure has now dropped to a range of $40 million to $45 million, with the company placing blame on continued lockdown restrictions.
This change also means positive monthly Canadian operating cashflow will not be achieved by the end of Q1 2021, with the firm now expecting positive cashflow at its Canadian operations sometime later this year.
TGOD last traded at $0.475 on the TSX.
Information for this briefing was found via Sedar and The Green Organic Dutchman. 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.
