Greenway Greenhouse GWAY released its first-quarter financial statements since hitting markets in September.
Revenue came in at C$1.15 million ($906,547), with gross profit before fair value adjustments at C$532,263.
The company, however, reported a net loss of C$1.26 million, on adjusted EBITDA of C$272,444.
“Attaining positive Adjusted EBITDA at this stage is a testament to the cultivation expertise of our team. We believe that we have the available infrastructure and team in place to scale up aggressively in a responsible and sustainable manner and the ability to meet our business plan of becoming one of the largest and trusted suppliers for high quality cannabis. This is just the beginning for Greenway,” states Darren Peddle, CFO.
Not unlike Village Farms International VFF, Greenway Greenhouse arose from the infrastructure of an established cultivator. Privately-held Del Fresco Group, a strawberry grower with more than 50 years of operation, retains a majority stake in Greenway Greenhouse through Sunrite Greenhouses Ltd.
Más contenido sobre cannabis en Español en El Planteo.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Click on the image for more info.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry?
Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.
Get your tickets now before prices surge by following this link.