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VIVO Cannabis Discloses Five-Fold Revenue Increase In Q2

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VIVO Cannabis Discloses Five-Fold Revenue Increase In Q2

VIVO Cannabis Inc. (TSX-V: VIVO)(OTC: VVCIF) reported second-quarter net revenue of $5.3 million, five times higher than in the same quarter of 2018.

The company had an adjusted EBITDA loss of $1.2 million in the second quarter, compared to a loss of $2.2 million in the prior quarter.

At the end of the quarter, the company’s cash and short-term investments without strategic equity investments were around $59 million.

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"The progress our team has made on all four of our strategic priorities positions us well for future growth," said CEO Barry Fishman. "We remain focused on increasing long-term shareholder value by continuing to establish ourselves as a premium provider of cannabis products and services. Our positive momentum is expected to lead to increased revenue generation and product breadth in the second half of the year."

The stock traded around 34 cents on Thursday morning.

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Posted-In: Cannabis Earnings News Markets

 

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