MedReleaf (TSE: LEAF) Announces 3rd Quarter Financials

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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