Halo Collective Q4 and FY2021 Earnings Call

Halo Collective Q4 and FY2021 Earnings Call - RICH TV LIVE - April 4, 2022 - #halocollective #earnings #richtvlive #trading #stocks #news #business #finance #halo
Fourth Quarter 2021 Financial Highlights:
Revenue of $8.4 million , up $3.2 million , or 63%, compared to $5.1 million in Q4 2020.
Sales of nearly 13 million grams of cannabis products principally to dispensaries in Oregon and California , a 345% year-over-year increase compared to Q4 2020.
Adjusted gross margin 1 was $0.8 million , or 9.6% gross margin, compared to $0.5 million , or 10.5% gross margin, in Q4 2020.
Adjusted EBITDA 1 loss of $7.1 million compared to a loss of $3.7 million in Q4 2020.
Full Year 2021 Financial Highlights:
Revenue of $36.2 million , up $14.5 million , or 67%, compared to $21.6 million in 2020.
Sales of over 32 million grams of cannabis products principally to dispensaries in Oregon and California , a 381% year-over-year increase compared to 2020.
Adjusted gross profit 1 was $7.3 million , or 20.1% gross margin, compared to gross profit of $5.2 million , or 24.0% gross margin, in 2020.
Adjusted EBITDA 1 loss of $23.6 million compared to a loss of $6.9 million in 2020.
"Halo's team is actively building significant shareholder value, even while the operating conditions remain difficult in the California and Oregon markets and pressuring our near-term financial performance," said CEO Kiran Sidhu . "In our growing wholesale businesses, volumes are trending upward due to higher sales velocity and expanded market penetration, offsetting much of the downward pressure on prices and positioning us well for when pricing stabilizes. In our retail business, we've opened our first Budega™ dispensary in North Hollywood, California , and are seeing solid preliminary results in the first weeks of operation. Meanwhile, we have taken the necessary steps to rationalize the business to accelerate our path to profitability."Show more

Added Sidhu, "What's less apparent in the financials is the significant value that we are creating through our incubation efforts within our collective of assets. Take Akanda Corp. as an example. In 2020 we purchased two disparate international cannabis assets, Bophelo Bioscience & Wellness and CanMart and, after completing a reorganization of these assets and putting in place a team, strategy and structure, Halo is now the largest shareholder in this rapidly scaling international medical cannabis company with a stake worth over $100 million based on Akanda's current market capitalization. We are now assessing other opportunities with respect to Halo's investments in cannabis businesses ancillary to our West Coast operations, including our investments in CBD and functional beverages, two of the fastest-growing categories in the consumer space that can be widely distributed."

Earnings Conference Call and Financial Outlook
Halo will host a live webinar at 4:15 p.m. Eastern Time on Monday , April 4, 2022, to discuss its results. To access the webinar, visit https://conferencingportals.com/event/qzlwFzzt . The webinar will also be available on a telephonic replay after the event until April 11, 2022 . To access the replay, dial 1-(800) 770-2030 (toll free) or (647) 362-9199 (international) and enter conference ID: 45805. At this time we are not providing financial guidance given the uncertainty within the Oregon and California markets and the early stage of the Company's incubation strategy.

JOIN RICH TV LIVE TRADING CLUB HERE - http://www.richtv.io

Subscribe - https://www.youtube.com/c/RICHTVLIVE
Visit - http://richtv.io/

Disclaimer

RICH TV LIVE INC. company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RICH TV LIVE reports company profiles or other investor relations materials and presentations are subject to change. RICH TV LIVE and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time. RICH TV LIVE INC. expects to be sponsored $1000 CAD for digital video services.

Investing is inherently risky. RICH TV LIVE is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.

We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov/Canadian CSA https://www.securities-administrators....