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Fire & Flower Q2 Revenue Drops 6% YoY, What About Adjusted EBITDA?
Fire & Flower Q2 Revenue Drops 6% YoY, What About Adjusted EBITDA?
Fire & Flower Holdings Corp. (OTCQX:FFLWF) (OTCQX:FFLWD) (TSX:FAF) Q2 2022 revenue was CA$40.7 million ($31.4 million), representing a decrease of 6% from CA$43.3 million in the prior year comparative period, primarily due to increasing competition from new licenses issued and pricing pressures in the cannabis retail market.
Q2 2022 Financial Highlights
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Gross profit of CA$9.7 million (24% of revenue) for Q2 fiscal 2022, compared to CA$16.2 million (37% of revenue) in the prior year comparative period. The decline in gross profit dollars and margin reflects investment in the Spark Perks Member Pricing program, Firebird Delivery and Hifyre digital platform during the current fiscal quarter.
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Adjusted EBITDA was negative CA$6.0 million compared to positive adjusted EBITDA of CA$3.1 million for the comparable quarter for 2021 fiscal year.
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Net loss of CA$21.6 million for Q2 fiscal 2022, compared to a net profit of CA$19.5 million in the prior year comparative period.
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Cash and cash equivalents balance of CA$18.6 million as at July 30, 2022, a decrease of CA$1.3 million from the fiscal year ended January 29, 2022.
Subsequent Operational Highlights Post July 30, 2022
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Announcement of change in board of directors with Suzanne Poirier, Alimentation Couche-Tard (OTCPK:ANCTF) executive joining in replacement of Guillaume Léger on August 12, 2022.
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Launch of Pineapple Express recreational cannabis delivery in the province of British Columbia on July 13, 2022.
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Changed year end to December 31.
"Fire & Flower remains focused on the transformation of our business and strategic opportunities with a goal to deliver positive adjusted EBITDA and free cash flow. We are focusing on near-term initiatives such as the Spark Perks Member Pricing program and opportunities to generate additional consolidated gross profit dollars as competitive pressures, and license expansion outpacing market growth create challenging market conditions across the industry. Our member pricing program has generated success by getting customers back in our stores and we will look to maximize the margin opportunities from all programs focused on driving gross profit dollars," stated Stéphane Trudel, CEO of Fire & Flower.
"We continue to invest in our end-to-end Hifyre cannabis consumer technology platform and integrate our wholesale and logistics segment to deliver greater sustainable value across our business as one of the leading cannabis retailers. Alongside our strategic partner, Alimentation Couche-Tard, Fire & Flower remains focused on our long term, global outlook on technology-enabled cannabis retail both through our Spark Perks member program and Firebird rapid delivery service, which brings cannabis products to consumers' doors within hours. To deliver on our long term vision, we are focused on how we sustainably grow the business while also improving on near term financial performance and prudent use of capital."
Related News
Entourage Health's Starseed Adds Four New Union Groups To Its Medical Cannabis Program
Fire & Flower US Closes CA$5M Convertible Debenture Financing
Ex-Cannabis Regulator Joins Marijuana Software Startup & More Strategic Leadership Changes In Weed Sector
Fire & Flower Holdings Corp. (OTCQX:FFLWF) (OTCQX:FFLWD) (TSX:FAF) Q2 2022 revenue was CA$40.7 million ($31.4 million), representing a decrease of 6% from CA$43.3 million in the prior year comparative period, primarily due to increasing competition from new licenses issued and pricing pressures in the cannabis retail market.
火花控股公司。(OTCQX:FFLWF)(OTCQX:FFLWD)(多倫多證券交易所:FAF)Q2 2022 r平均曾經是加元4070萬加元(3140萬美元),代表一種減少6%去年同期為4,330萬加元,主要是由於來自新發放的許可證的競爭加劇以及大麻零售市場的定價壓力。
Q2 2022 Financial Highlights
Q2 2022 財務亮點
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Gross profit of CA$9.7 million (24% of revenue) for Q2 fiscal 2022, compared to CA$16.2 million (37% of revenue) in the prior year comparative period. The decline in gross profit dollars and margin reflects investment in the Spark Perks Member Pricing program, Firebird Delivery and Hifyre digital platform during the current fiscal quarter.
-
Adjusted EBITDA was negative CA$6.0 million compared to positive adjusted EBITDA of CA$3.1 million for the comparable quarter for 2021 fiscal year.
-
Net loss of CA$21.6 million for Q2 fiscal 2022, compared to a net profit of CA$19.5 million in the prior year comparative period.
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Cash and cash equivalents balance of CA$18.6 million as at July 30, 2022, a decrease of CA$1.3 million from the fiscal year ended January 29, 2022.
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毛利潤970萬加元(24%2022財年第二季度的收入),而上一財年同期為1620萬加元(佔收入的37%)。毛利率(美元)和利潤率的下降反映了對Spark Perks會員定價計劃,火鳥送貨和Hifyre本財季的數字平臺。
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調整後的EBITDA曾經是負600萬加元相比之下,2021財年可比季度的正調整EBITDA為310萬加元。
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淨虧損2,160萬加元2022財年第二季度,與上一年同期的淨利潤1950萬加元相比。
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現金和現金等價物收支平衡1,860萬加元截至2022年7月30日,與截至2022年1月29日的財年相比,減少了130萬加元。
Subsequent Operational Highlights Post July 30, 2022
2022年7月30日後的後續運營要點
-
Announcement of change in board of directors with Suzanne Poirier, Alimentation Couche-Tard (OTCPK:ANCTF) executive joining in replacement of Guillaume Léger on August 12, 2022.
-
Launch of Pineapple Express recreational cannabis delivery in the province of British Columbia on July 13, 2022.
-
Changed year end to December 31.
-
董事會換屆公告:蘇珊娜·波里爾, Alimentation Couche-Tard公司(OTCPK:ANCTF)高管加盟接替Guillaume LéGer2022年8月12日。
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推出菠蘿快遞2022年7月13日,不列顛哥倫比亞省娛樂用大麻運送。
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將年終改為12月31日。
"Fire & Flower remains focused on the transformation of our business and strategic opportunities with a goal to deliver positive adjusted EBITDA and free cash flow. We are focusing on near-term initiatives such as the Spark Perks Member Pricing program and opportunities to generate additional consolidated gross profit dollars as competitive pressures, and license expansion outpacing market growth create challenging market conditions across the industry. Our member pricing program has generated success by getting customers back in our stores and we will look to maximize the margin opportunities from all programs focused on driving gross profit dollars," stated Stéphane Trudel, CEO of Fire & Flower.
Fire&Flow仍然專注於我們業務和戰略機會的轉型,目標是提供積極的調整後EBITDA和自由現金流。我們正專注於近期的計劃,如星火公園會員定價計劃,以及在競爭壓力下產生額外綜合毛利美元的機會,以及許可證擴張超過市場增長在整個行業創造具有挑戰性的市場條件。我們的會員定價計劃通過吸引客户回到我們的門店獲得了成功,我們將尋求從所有專注於推動毛利美元的計劃中獲得最大限度的利潤率機會。StéPhane Trudel,Fire&Flower的首席執行官。
"We continue to invest in our end-to-end Hifyre cannabis consumer technology platform and integrate our wholesale and logistics segment to deliver greater sustainable value across our business as one of the leading cannabis retailers. Alongside our strategic partner, Alimentation Couche-Tard, Fire & Flower remains focused on our long term, global outlook on technology-enabled cannabis retail both through our Spark Perks member program and Firebird rapid delivery service, which brings cannabis products to consumers' doors within hours. To deliver on our long term vision, we are focused on how we sustainably grow the business while also improving on near term financial performance and prudent use of capital."
我們繼續投資於我們的端到端Hifyre大麻消費技術平臺,並整合我們的批發和物流部門,以在我們作為領先大麻零售商之一的業務中提供更大的可持續價值。與我們的戰略合作伙伴Alimentation Couche-Tard一起,Fire&Flower通過我們的Spark Perks會員計劃和Firebird快速送貨服務,繼續關注我們對技術驅動的大麻零售的長期、全球前景。Firebird快速送貨服務在幾個小時內將大麻產品送到消費者的門口。為了實現我們的長期願景,我們專注於如何可持續增長業務,同時改善短期財務業績和謹慎使用資本。
Related News
相關新聞
Entourage Health's Starseed Adds Four New Union Groups To Its Medical Cannabis Program
環境健康公司的StarSeed公司在其醫用大麻計劃中增加了四個新的聯盟組織
Fire & Flower US Closes CA$5M Convertible Debenture Financing
Fire&Flow美國公司完成500萬加元的可轉換債券融資
Ex-Cannabis Regulator Joins Marijuana Software Startup & More Strategic Leadership Changes In Weed Sector
前大麻監管機構加入大麻軟件初創公司和雜草行業更多戰略領導層變動
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc和Moomoo Securities Malaysia Sdn. Bhd., 是關聯公司。
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