Slide 1: Q3 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.” Q3 2020 Earnings Conference Call November 25, 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-lo
Slide 3: Today's Presenters
Today’s Presenters Kyle Kingsley, M.D. Chairman & Chief Executive Officer Dial-in & Webcast Details: Conference Call Registration: John Heller http://www.directeventreg.com/registration/ Chief Financial Officer event/8084816 Webcast Registration: https://event.on24.com/wcc/r/2628431/737 Sam Gibbons
Slide 4: Third Quarter 2020 Highlights
Third Quarter 2020 Highlights • The Company generated operating revenue in seven states during the second quarter: Arizona, Maryland, Minnesota, New Mexico, New York, Ohio, and Pennsylvania. • Total revenue of $13.4 million grew 68 percent year-over- year. Reported revenue, excluding contributions f
Slide 5: Key Third Quarter 2020 Financial Metrics
Key Third Quarter 2020 Financial Metrics Three Months Ended Nine Months Ended September 30, September 30, US $ in millions 2020 2019 Variance 2020 2019 Variance Total Revenue, Including Disc. Ops $13.4 $8.0 67.6% $36.8 $21.0 75.6% Reported Results Revenue1 $11.9 $7.1 67.4% $33.3 $19.1 74.5% Gross Pr
Slide 6: Third Quarter 2020 Performance
Third Quarter 2020 Performance • Reported revenue increased 67 percent year-over-year, driven by greater patient enrollment and average revenue per patient in Minnesota and New Mexico, and contributions from its retail dispensaries in Pennsylvania. • Adjusted EBITDA loss of $0.7 million improved com
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Slide 8: Consolidated Statements of Loss and Comprehensive Loss
Vireo Health, Inc. Consolidated Statements of Loss and Consolidated Statements of Loss and Comprehensive Loss Three Month Three Month Comprehensive Loss Period Ended Period Ended For the Three Months Ended September 30, 2020 and 2019 September 30, September 30, (Unaudited - Expressed in United State
Slide 9: Consolidated Statements of Financial Position
Vireo Health, Inc. Consolidated Statements of Financial Position Consolidated Statements of Financial Position As at September 30, 2020 and December 31, 2019 September 30, December 31, (Unaudited - Expressed in United States Dollars) 2020 2019 ASSETS Current Assets Cash $ 16,281,768 $ 7,641,673 Rest
Slide 10: Consolidated Statements of Cash Flows
Vireo Health, Inc. Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows Nine Months Ended Nine Months Ended For the Nine Months Ended September 30, 2020 and 2019 September 30, September 30, (Unaudited - Expressed in United States Dollars) 2020 2019 Cash Flows from Operating Ac
Slide 11: Reconciliation of IFRS to Non-IFRS Financial Measures
Reconciliation of IFRS to Non-IFRS Financial Measures Three Months Ended September 30, 2020 2019 Net income (loss) $ 122,252 $ (14,565,506) Interest expense, net 1,356,834 871,781 Accretion expense 19,669 72,976 Income taxes 6,064,900 (3,506,000) Depreciation 355,450 515,486 Amortization 153,357 727
Slide 12: Reconciliation of IFRS to Non-IFRS Financial Measures
Reconciliation of IFRS to Non-IFRS Financial Measures Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Total Operating Expenses $ 6,943,562 8,247,986 $ 31,663,589 17,193,745 Depreciation (355,450) (515,486) (1,200,729) (1,057,566) Share-based compensation (524,052