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Expanding Distribution In Ontario Pays Off, Decibel Cannabis Hits Record Q2 Net Revenue

Expanding Distribution In Ontario Pays Off, Decibel Cannabis Hits Record Q2 Net Revenue

安大略省擴大分銷收到回報，分貝大麻第二季度淨收入創歷史新高
Benzinga Real-time News ·  2022/08/18 10:30

Decibel Cannabis Company Inc. (OTCQB:DBCCF) (TSXV:DB) released its second quarter financial results for the three and six month periods ending June 30, 2022, revealing record net revenue of $18.6 million, with sequential growth of 11% over Q1 2022 and 49% over Q2 2021.

分貝大麻有限公司。(場外股票代碼：DBCCF)(多倫多證券交易所股票代碼：DB)發佈了截至2022年6月30日的三個月和六個月期間的第二季度財務業績，披露r創紀錄的淨收入為1,860萬美元，比2022年第一季度增長11%，比2021年第二季度增長49%。

Net revenue growth was driven by expanded distribution particularly in the Ontario market, the continued launch of new General Admission and Qwest infused products in various provinces and continued growth in demand for derivative products.

淨收入增長是由擴大分銷推動的，特別是在安大略省市場，新產品的持續推出普通招生和QWest各省注水產品和衍生產品需求持續增長。

Financial Highlights

財務亮點

  • Record gross margin before fair value adjustments, sequential improvement to 41% in Q2, compared to 35% in Q1 2022 and 41% in Q2 2021.

  • Record adjusted EBITDA of $3.2 million in Q2, with growth of 31% over Q1 2022 and 49% over Q2 2021. This marks Decibel's eighth quarter of consecutive quarterly positive adjusted EBITDA.

  • Cash flow from operations of $1.8 million of cash flow from operations in Q2, a sequential decrease of $1.2 million over Q1 2022 and an improvement of $4.8 million over Q2 2021. This marks Decibel's second consecutive quarter of positive cash flow from operations.

  • On May 11, 2022, the company repaid its 9.5% convertible debentures with the draw-down of a fixed 4.75% $12 million term loan. This extends the maturity date of $12 million of debt by 4 years, avoids approximately 6% of potential shareholder dilution, and results in $0.6 million of annual interest expense savings.

  • 記錄g羅斯m加長b前額f空氣v價值a調整，順序提高到41%2022年第一季度為35%，2021年第二季度為41%。

  • 記錄a調整後的EBITDA的320萬美元第二季度，比2022年第一季度增長31%，比2021年第二季度增長49%。這標誌着分貝連續第八個季度出現正增長調整後的EBITDA。

  • 現金f低起點o操作的 180萬美元第二季度運營現金流減少，比2022年第一季度減少120萬美元，比2021年第二季度增加480萬美元。這標誌着分貝連續第二個季度實現運營現金流為正。

  • 2022年5月11日，該公司償還了9.5%的可轉換債券隨着固定4.75%的1200萬美元定期貸款的提取。這將1200萬美元債務的到期日延長了4年，避免了大約6%的潛在股東稀釋，並導致每年節省60萬美元的利息支出。

"Our second quarter results continue to demonstrate that Decibel is on the path we projected in our 2022 operational outlook", stated Paul Wilson, CEO of Decibel. "Our New Unique and Innovative product development and revenue generating initiatives have once again produced quarter-over-quarter record performance. This progress has been compounded by our productivity initiatives and record gross profit, now resulting in positive cash flow, putting us on track for another projected milestone."

我們第二季度的業績繼續表明，分貝正走在我們在2022年運營展望中預測的道路上保羅·威爾遜，分貝公司首席執行官。我們新的獨特和創新的產品開發和創收計劃再次創造了季度與季度之間創紀錄的業績。我們的生產力計劃和創紀錄的毛利潤加劇了這一進展，現在產生了正現金流，使我們走上了另一個預計的里程碑。

"With more highlights scheduled for the back half of 2022, Decibel is delivering exactly what we've planned and forecasted to the market, ourselves, and our shareholders."

隨着2022年下半年計劃推出更多亮點，分貝正在向市場、我們自己和我們的股東傳遞我們所計劃和預測的東西。

Price Action

價格行動

Decibel shares were trading 3.87% higher at $0.0779 per share at the time of writing Thursday morning.

截至本文發稿時，分貝股價週四上午上漲3.87%，至每股0.0779美元。

Photo by Richard T on Unsplash

理查德·T在Unspash上的照片

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