GABY Provides Estimated Financial Results For Fiscal 2021 And Summarizes Previous Operational Milestones

GABY Inc. GABYGABLF, a California consolidator of cannabis dispensaries and the parent company of San Diego's Mankind Dispensary, offered a review of 2021 filled with numerous operational, sales, and marketing improvements since acquiring Mankind in April, 2021.

Since acquiring Mankind, the GABY team has executed a series of initiatives to improve access to, and availability of, high-quality cannabis, backed by unparalleled cannabis knowledge and industry-leading customer service. By combining retail optimizations with operational efficiencies and improved outreach efforts, GABY has expanded Mankind's customer base, increased profitability, grown its delivery fleet, and achieved numerous milestones and accolades.

Operational And Financial Highlights

GABY estimates its 2021 fiscal year revenue and gross profit as follows:
Over $32 million in revenue, up from $4.2 million in fiscal year 2020
Over $11 million in gross profit, up from negative $500,000 in fiscal year 2020
Gross margin in Q4 2021 is expected to be in excess of 45%, an increase from 39% in Q3 2021.
GABY leadership executed over $3 million (CA$3.8 million) in annual cost savings which will be reflected starting in Q1 2022.
Expanded delivery fleet and marketing optimizations generate a 10.86% increase in weekly deliveries and 3% increase in ecommerce conversions in Q4 2021.
Mankind is named to the 2021 Inc. Magazine list of 5,000 fastest-growing companies in the United States.
GABY launches its "Plant.People.Planet." initiative at Mankind, partnering with charities in San Diego and beyond to inspire positive change.

"I'm immensely proud of the efforts and results of the GABY management team over the past nine months," GABY founder and CEO Margot Micallef stated. "The changes we've made are proof that ‘corporate cannabis' can work. GABY and Mankind have built an environment that honors California cannabis culture, provides unparalleled cannabis experiences for consumers, and achieves operational and profitability milestones".

Photo: Courtesy of Gaby