E Valens' Q1 Financials Show Improvement In All Metrics But EBITDA Is Still Negative


The Valens Company Inc. (VLNCF), formerly known as Valens Groworks Corp., is a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products and a constituent in the munKNEE.com Pure-Play Pot Stock Index and it reported its Q1, 2021, financials today, as follows:

Q1 Financial Highlights 

(All figures below are in Canadian dollars and compared to the previous quarter)

  • Net Revenue: increased 24.7% to $20.0M
  • Gross Profit ($)increased to $4.8M from $(6.0)M
  • Adj. EBITDA*: increased 47.6% to $(4.3)M
  • Net Income (Loss): loss reduced 66.1% to $(5.6)M
  • Income (Loss) per Share: loss reduced to $(0.05) from $(0.13)
  • Cash on Hand: increased 130% to $49.3M 

*Valens' management defines adjusted EBITDA as:

  • income (loss) and comprehensive income (loss) from operations, as reported, before interest, tax, depreciation, and amortization,
  • and adjusted for removing share-based payments, realized gains and losses from short-term investments and liabilities, and other one-time and non-cash items including impairment losses.
  • and believes adjusted EBITDA is a useful financial metric to assess its operating performance on an adjusted basis as described above. 

Q4 Operational Highlights

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