Business
Harvest One and its Brands LivRelief (TM) and Dream Water (TM) Report Continued Positive Results for Fiscal Q1 2022
Ongoing strategic focus on transformation to a health and wellness CPG company that is unique...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"Harvest One and its Brands LivRelief (TM) and Dream Water (TM) Report Continued Positive Results for Fiscal Q1 2022Ongoing strategic focus on transformation to a health and wellness CPG company that is uniquely positioned in the cannabis space providing well-respected brands and innovative products to the emerging marketplace Improved net revenue with 12% growth quarter-over-quarter despite on-going COVID travel restrictionsImproved gross profit margin, 33% in fiscal Q1 2022 vs. 29% in fiscal Q1 2021 Selling, general and administrative (\"SG&A\") expenses reduced by 37% quarter-over-quarter Improved adjusted earnings before interest, taxes, depreciation and amortization (\"EBITDA\")(1) by 51% quarter over quarter Innovative excellence with the successful launch of Dream Water TM gummies in the U.S.Vancouver, British Columbia--(Newsfile Corp. - November 29, 2021) - Harvest One Cannabis Inc. (TSXV: HVT) (OTCQB: HRVOF) (\"Harvest One\" or the \"Company\"), a uniquely positioned cannabis-infused health and wellness consumer packaged goods (\"CPG\") leader, with brands LivRelief TM and Dream Water TM, is pleased to announce its fiscal Q1 2022 financial and operating results for the three months ended September 30, 2021.Management Commentary\"Our first quarter results for fiscal 2022 demonstrate that Harvest One continues to be relentless in our objectives to increase revenue while simultaneously reducing operating and overhead expenditures to increase our profitability,\" said Gord Davey, President and Chief Executive Officer of Harvest One. \"Our strategy is working. We are executing on our existing and newly signed sales, distribution and marketing agreements, and continuing to bring new and innovative products to the market. We are pleased to see the positive results of our strategic repositioning of the Company and equally excited with our plans moving forward. We are in the process of negotiating additional agreements that, if and when completed, may result in many new customers, distribution partners, products and channels. Furthermore, we are committed to maintaining rigorous fiscal responsibility.\"Financial and Operating Highlights for the Quarter Expanded Marketing and Distribution Agreements Distribution in the Caribbean, Central America and the Travel Retail/Cruise ChannelOn July 20, 2021, the Company announ...