Business
Harvest One and its Brands LivRelief (TM) and Dream Water (TM) Report Positive Q4 2021 and Year End Financial Results
Strategic transformation to a uniquely positioned health and wellness company that provides t...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"Harvest One and its Brands LivRelief (TM) and Dream Water (TM) Report Positive Q4 2021 and Year End Financial ResultsStrategic transformation to a uniquely positioned health and wellness company that provides top selling brands to the global marketplaceImproved net revenue by 2.2% growth year over year despite aggressive COVID travel restrictionsImproved gross profit, 24% in fiscal 2021 vs. 9% in fiscal 2020 Lowered selling, general and administrative (\"SG&A\") expenses by 28% year over year Improved adjusted earnings before interest, taxes, depreciation and amortization (\"EBITDA\")(1) by 33% year over yearImproved financial position with the reduction of current liabilities by 62%LivRelief TM infused topical is the top selling cannabis-infused topical in the Ontario market Innovation excellence with the launch of Dream Water TM sleep aid gummies in the U.S. Vancouver, British Columbia--(Newsfile Corp. - October 28, 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 Q4 financial and operating results for the three and twelve months ended June 30, 2021.Management Commentary\"Our year-end financial results clearly illustrate that the Company is continuing to increase its revenues and significantly reduce operating and overhead expenditures to achieve profitability,\" said Gord Davey, President and Chief Executive Officer of Harvest One. \"This past year has been challenging to say the least. We have focussed on reducing our costs and overheads to improve our financial position. In parallel, we have been relentless in a very restricted COVID and travel environment in attaining new customers, distribution partners, products, and channels that are expected to increase our revenues and set the Company up for future sustainable success. Management's efforts to uniquely position Harvest One as a hybrid cannabis-infused and non-infused CPG leader that develops and distributes innovative health, wellness, and selfcare products are resonating with consumers and generating improved profit margins. During our next fiscal year, we expect to continue to increase our revenues from recently negotiated distribution a...