MedReleaf (TSE: LEAF) Announces 3rd Quarter Financials

In this Jan. 7, 2016 photo, Neil Closner, MedReleaf, chief executive officer poses for photographs at the growing facility in Markham, Ontario. Closner had applied to the Kashruth Council of Canada to have MedReleaf's cannabis oils certified kosher. (Nathan Denette/The Canadian Press via AP) MANDATORY CREDIT

MedReleaf posted the company’s third quarter financials this morning. The numbers speak for themselves.

  • Sold 1,263 kilograms of cannabis products an increase of 27% from the prior year period
  • Total sales of $11.4 million, an increase of 9% from the prior year period
  • At the end of December 31, 2017, the Company had cash and cash equivalents of $114.6 million, working capital of $137.9 million.

Third Quarter Fiscal 2018 Financial Summary

Three Months

December 31,

CAD$ (in 000s, except grams sold)

2017

2016

Dried Cannabis

8,573

9,831

Extracts

2,349

296

Other

428

299

Total Sales

11,350

10,426

Gross Profit

9,985

9,714

Adjusted Product Contribution Margin*

7,330

8,594

Adjusted EBITDA*

(233)

4,093

Net Income (loss)

(5,001)

1,738

Net Income (loss) per share – diluted

$(0.05)

$0.02

Total grams sold*

1,263,490

993,259

Average selling price per gram – Dried Cannabis

$8.05

$10.41

Average selling price per gram – Extracts

$11.83

$6.11

Total average selling price per gram

$8.98

$10.50

Adjusted product contribution per gram sold*

$5.80

$8.65

Cash cost per gram sold*

$1.83

$1.55

*Non-IFRS Measures

Link to the press release

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