Thursday, September 18, 2025

Latest

Vivo Cannabis Reports Q1 Revenue Of $5.5 Million, Net Loss Of $3.5 Million

VIVO Cannabis Inc. (TSX: VIVO) last night reported its Q1 2021 financial and operating results. The company highlighted net revenue of $5.5 million, a decrease of 11% over the previous quarter.

Revenues were down from $6.2 million in the prior quarter, with the company blaming the decline on a one-time $0.6 million excise tax underestimate, as well as market compression. The firms net revenue of $5.5 million was whittled down to a gross profit of just $0.8 million following production expenses and costs of goods sold.

Expenses for the quarter meanwhile came in at $4.2 million, lead by general and administrative expenses of $4.0 million, and amortization and depreciation of $1.1 million, while the company recognized a gain on other financial assets to the tune of $1.3 million. The company overall reported a net loss of $3.5 million for the three month period.

VIVO’s adjusted EBITDA meanwhile was recorded at $2.4 million for the period, compared to the previous quarter’s $4.8 million. Cash and equivalents were valued at $16.9 million, a quarter over quarter change of 197% from the previous quarters $5.7 million.

The company has stated that the loss is primarily due to negative impacts from the COVID-19 situation which include downward pricing pressure and less demand for premium cannabis, lower than anticipated adult-use market growth, and production inefficiencies due in part to staffing challenges.

VIVO Cannabis Inc. last traded at CAD$0.14.


Information for this briefing was found via Sedar and Vivo Cannabis. 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

The Pure Silver Set Up! | Joaquin Marias – Argenta Silver Corp

Why $30,000 Gold Isn’t Crazy! | Simon Marcotte – Northern Superior

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

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

Related News

Vivo Cannabis Reduces Outstanding Debentures From $27.1 Million To $6.6 Million

Vivo Cannabis (TSX: VIVO) has significant reduced its outstanding debt obligations through amendments to certain...

Wednesday, September 16, 2020, 09:08:13 AM

Vivo Cannabis Sees CEO, Chairman Announce Retirements

Vivo Cannabis (TSX: VIVO) this morning has announced the retirement of both its Chairman Paul...

Monday, November 30, 2020, 08:04:51 AM

Vivo Cannabis Cancels $5.1 Million Financing Over Unusual Trading Activity

Vivo Cannabis (TSX: VIVO) this morning announced that it has cancelled a proposed $5.1 million...

Friday, October 16, 2020, 08:18:03 AM

VIVO Cannabis Enters Into Research Partnership with CB2 Insights

This morning, CB2 Insights (CSE: CBII) announced it has entered into an agreement with that...

Tuesday, October 29, 2019, 04:52:32 PM

Canopy Growth’s Bruce Linton Finds Himself in a Catch-22

Canopy Growth Corp’s (TSX: WEED) (NYSE: CGC) Bruce Linton came under fire yesterday across social...

Friday, June 28, 2019, 09:22:46 AM