Vireo Growth Inc · CSE:VREO
Vireo Growth — Vireo Health — Q1 2020 Earnings Presentation
10 slides from Vireo Growth's earnings presentation, Jun 16, 2020
Slide 1: Q1 2020 Earnings Conference Call
“We are building the cannabis company of the future by bringing the best of science, medicine and engineering to the cannabis industry.” Q1 2020 Earnings Conference Call June 16, 2020 - Kyle Kingsley, M.D. CNSX: VREO OTCQX: VREOF Founder & CEO
Slide 2: Disclaimer
Disclaimer CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This document includes information, statements, beliefs and opinions which are forward- looking, and which reflect current estimates, expectations and projections about future events, referred to herein and which constitute “forward-l
Slide 3: Today's Presenters
Today’s Presenters Kyle Kingsley, M.D. Founder & Chief Executive Officer Dial-in & Webcast Details: Dial-ins: 833-714-0863 (Toll-Free) B778-560-2618 (International) .BID 7783416 Shaun Nugent Chief Financial Officer Webcast Link: https://event.on24.com/wcc/r/2395200/4F34 D7BF58C5B938E83F029655D0B5B2
Slide 4: First Quarter 2020 Highlights
First Quarter 2020 Highlights • The Company generated operating revenue in seven states during the first quarter: Arizona, Maryland, Minnesota, New Mexico, New York, Ohio, and Pennsylvania. • Strongest quarter of revenue growth in Company history, with 34 percent growth sequentially and 110 percent
Slide 5: Key First Quarter 2020 Financial Metrics
Key First Quarter 2020 Financial Metrics Three Months Ended March 31, $ in millions, except per share data 2020 2019 Variance Revenue $12.1 $5.8 $6.3 Gross Profit (Before Fair Value Adjustments) $3.4 $2.1 $1.3 Gross Profit Margin 28.2% 36.6% -836 bps Gross Profit (After Fair Value Adjustments) $11.4
Slide 6: First Quarter 2020 Performance
First Quarter 2020 Performance • Total revenue increased 110 percent year-over- year, driven by increasing demand and patient counts across most markets, continued wholesale market growth, and contributions from acquired entities in Arizona and New Mexico. • Adjusted EBITDA loss of $3.3 million as c
Slide 7: Slide 7
Slide 8: Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) || 8
Slide 9: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position || 9
Slide 10: Reconciliation of IFRS to Non-IFRS Financial Measures
Reconciliation of IFRS to Non-IFRS Financial Measures Three Months Ended March 31, 2020 2019 Net loss $ (2,023,779) $ (3,446,759) Net fair value adjustments (7,956,973) (5,038,995) Listing expense - 3,464,613 Gain (Loss) on Derivative Liabilitiy (1,325,928) - Inventory adjustment 139,008 - Share-bas