Captor Capital Corp. CPTR NMVA NMVA released its audited annual financial statements for the year ended March 31, 2022, revealing revenues from the sale of cannabis at the company’s California dispensary network were $32.73 million, with the company recording a gross profit of $12.3 million.
Financial Highlights
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On a quarter-by-quarter basis, revenues continue to increase. During the three months ended March 31, 2022, the company recorded revenues of $9.1 million from the sale of cannabis at its retail dispensaries compared to $8.4 million in the previous quarter and $4.33 million during the three months ended March 31, 2021.
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Revenues from cannabis sales were up $16.52 million (102%) from the previous fiscal year, while gross profit was up $7 million (132%), in the face of a competitive and challenging retail cannabis environment.
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As of March 31, 2022, the company has assets of $56.41 million, as compared to assets of $60.31 million, on March 31, 2021.
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The company’s net loss increased from ($0.15) per share for the fiscal year ended March 31, 2021, to ($0.28) per share for the fiscal year ended March 31, 2022.
“We have maintained our focus on profitability for the fiscal year. I am proud of our leadership in Captor Retail Group (CRG), Adam Wilks, Matthew Emory and Wayne Lipschitz, as we increased our store count, revenue and gross profits in California and continued our path to realize our goal in making CRG one of California’s premier cannabis retail operators,” stated Captor Capital CEO John Zorbas.
“Sustainable profitability remains our ethos as we manage all challenges and expenses effecting the cannabis sector. Our leadership team is keen to the opportunities ahead and I am confident their operational expertise will navigate us to our goals. While we have achieved significant growth in both revenue and profits this past year, it is our continued belief that these investments will continue to bear significant fruit as we utilize the full resources and capabilities of each of our locations,” continued Zorbas.
Photo by Mackenzie Marco on Unsplash
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