LFTD Partners Inc. LIFD shared its financial results for Q4 2021 and full year 2021, reporting its sixth consecutive quarter of positive GAAP-basis earnings per share and record revenue.
The company is currently focused on acquiring companies that sell branded hemp-derived cannabinoid products, emerging psychoactive products and other alternative lifestyle products.
Its wholly-owned subsidiary is Lifted Made, a company selling hemp-derived cannabinoid products and other products under its flagship brands Urb Finest Flowers and Silly Shruum.
LFTD Partners also owns 4.99% of CBD-infused beverage and products maker Ablis and of three Oregon-based distilleries.
Financial Highlights - 2021 Fiscal Year
- Revenue grew 492% to $31,656,932, up from $5,344,320 in 2020
- Net income of $5,799,982, up from a loss of $(1,534,589) in 2020
- Basic earnings per share of $0.50, up from a loss per share of $(0.29) in 2020
- Diluted earnings per share of $0.43, up from a diluted loss per share of $(0.29) in 2020
Financial Highlights - Q4 2021
- Revenue up 482% to $12,787,566, up from $2,196,518 in Q4 2020
- Net income up 146% to $1,349,292, up from $549,531 in Q4 2020
- Basic earnings per share up 67% to $0.10 per share, up from basic earnings per share of $0.06 in Q4 2020
- Diluted earnings per share up 300% to $0.08 per share, up from diluted earnings per share of $0.02 in Q4 2020
- The full financial report can be accessed here.
Vice chairman and COO Nicholas S. Warrender said the company expects 2022 revenue will reach or exceed $75 million.
“Notably, this 2022 sales projection does not assume any revenue from a groundbreaking new federally compliant psychedelic product that we expect to launch this year that will contain zero cannabinoids and further diversify our portfolio of products," said Warrender, who’s also founder and CEO of Lifted Made.
"Our balance sheet is strengthening significantly, driven by our EBITDA margin that is typically in excess of 20%. During the past 100 days, we have paid off over $2.5 million of our liabilities and repurchased 100,000 shares of our common stock from an unaffiliated shareholder. And, our cash on hand currently exceeds $4.5 million," said William C. "Jake" Jacobs, CPA, president and CFO of LFTD Partners.
With regards to the Silly Shruum brand, Warrender said that "Lifted Made launched its psychedelic brand called Silly Shruum in January, 2022. Silly Shruum's products contain zero psilocybin. Silly Shruum's first two products are Psychedelic gummies, which contains a proprietary formulation including Kava Kava, Damiana and Green Tea Caffeine, and Shroomy Gummies, which contains a proprietary formulation including Chaga, Lion's Mane and Cordyceps mushrooms."
As the result of intensive R&D over the past months, Silly Shruum expects to launch a new federally compliant psychedelic product this year.
"We believe [the new product] will be extremely well received by consumers, and that will further diversify our portfolio of products," concluded Warrander.
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