Khiron Life Sciences Q3 Revenue Grows 83% YoY To $2.78M

Khiron Life Sciences Q3 Revenue Grows 83% YoY To $2.78M

Khiron Life Sciences Corp. KHRN KHRNF (Frankfurt: A2JMZC) announced its financial results on Monday for the quarter ended September 30, 2021 reporting revenues of CA$3.52 million ($2.78 million), compared to CA$1.93 million in the same period year ago.

Q3 Financial Highlights

  • Net loss amounted to CA$3.34 million, versus a loss of CA$6.72 million in the prior-year quarter;
  • Net loss per share amounted to CA$0.02, compared to a net loss of CA$0.06 per share in the third quarter of 2020;
  • Adjusted EBITDA was a loss of CA$3.78 million, compared to a loss of CA$4.71 million in the same quarter of last year;
  • Medical cannabis revenue of CA$1.2 million, represents 34% of total revenue, while Europe represents 31% of medical cannabis revenue;
  • Increased gross margin for clinic services segment of 26%, compared to 12% in Q3 2020 and 15% in Q2 2021;
  • At the end of the reporting period on Sep. 30, the company held CA$15.4 million in cash.

Management Commentary

"In Q3, we achieved strong results and broke revenue and profitability milestones, surpassing our first million dollars in medical cannabis revenues and gross profits,” " Alvaro Torres, CEO and director of the Company stated. “Prescription growth was driven by our patient-focused operations in Colombia and Germany. In the first 9 months of 2021, we have already exceeded 2020 medical cannabis sales by more than 600% while maintaining medical cannabis margins of over 89%.”

Price Action

Khiron’s shares traded 0.94% higher at 19 cents per share at the time of writing Monday morning.

Photo: Courtesy of manish panghal on Unsplash

Posted In: Alvaro TorresCannabis EarningsCannabisNewsPenny StocksMarkets


Meet the biggest cannabis industry players and make deals that will push the industry forward.

Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.

Join us September 13-14, 2022 at The Palmer House in Chicago, IL.