Vireo Growth Inc · CSE:VREO
Vireo Growth — Vireo Health — Q1 2019 Earnings Presentation
17 slides from Vireo Growth's earnings presentation, May 31, 2019
Slide 1: Q1 2019 Earnings Conference Call
Q1 2019 Earnings Conference Call May 31, 2019
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: 866-211-3165 (Toll-Free) B647-689-6580 (International) .BID 8184214 Amber Shimpa Chief Financial Officer Webcast Link: https://event.on24.com/wcc/r/2003988/DA8 1271BEE763276DDB66A3649F2BD1B
Slide 4: Our Mission
Our Mission “We are building the cannabis company of the future by bringing the best of science, medicine and engineering to the cannabis industry.” - Kyle Kingsley, M.D. Founder & CEO Q1 2019 Results Conference Call || 4
Slide 5: First Quarter 2019 Business Highlights
First Quarter 2019 Business Highlights • Vireo generated revenue in six states in Q1 2019: Arizona, Maryland, Minnesota, New Mexico, New York, and Pennsylvania. • Proforma revenue in Q1 2019, including total first quarter contributions from recently completed acquisitions in Arizona and New Mexico,
Slide 6: Minnesota Regulatory Update: Vireo's Homegrown Opportunity
Minnesota Regulatory Update Vireo’s Homegrown Opportunity • On May 30 , 2019, Minnesota’s state legislature approved changes to the state’s medical cannabis program that will double the number of licensed dispensaries, as well as to allow the write off some 5.6M business expenses and the purchase of
Slide 7: Best-in-Class Customer Experience: Green Goods Dispensary Roll-out
Best-in-Class Customer Experience: Green Goods™ Dispensary Roll-out Retail Dispensaries Green Goods™ Concept Launching in 2Q19 Slide content reflects layout of Bethlehem, PA location Q1FY18 2019Results ResultsConference ConferenceCall Call|| || 7
Slide 8: 1937 Brand Rollout
1937 Brand Rollout • We are planning to introduce our 1937 brand to the Pennsylvania market later this summer, pending regulatory approval. This brand is also expected to be used for the sale of flower. • We expect to introduce the 1937 brand, pending regulatory approval, in the state of Maryland la
Slide 9: Intellectual Property Portfolio
Intellectual Property Portfolio Short Term Monetization Long-Term Applications Cannabis Moist Snuff Composition Harm Reduction Additive for Tobacco Products Multi-Channel Vaporizer Method for Treating Non-Cannabinoid Negative Control Antidepressant Withdrawal Formulations (Placebo) Syndrome Propriet
Slide 10: Key First Quarter 2019 Financial Metrics
Key First Quarter 2019 Financial Metrics Three Months Ended March 31, $ in millions, except per share data 2019 2018 Variance Revenue $5.8 $3.7 $2.1 Gross Profit (After Fair Value Adjustments) $7.2 $2.3 $4.8 Gross Profit Margin 123.8% 63.6% 6,012 bps SG&A Expenses $1.4 $0.7 $0.7 SG&A (% of sales) 25
Slide 11: First Quarter 2019 Performance
First Quarter 2019 Performance • Q1 2019 revenue increased 57 percent year- over-year to $5.8 million, with growth driven by increased patient counts in Minnesota and New York, as well as wholesale revenue generation in Maryland and Pennsylvania. • Proforma revenue in Q1 2019, including total first
Slide 12: Fiscal Year 2019 Development Plans
Fiscal Year 2019 Development Plans During fiscal year 2019, Vireo expects to: • Launch Green Goods™ dispensaries in Pennsylvania and expand its retail footprint in New Mexico • Increase cultivation and processing capacity in Arizona, Minnesota, New Mexico and New York • Begin building new facilities
Slide 13: Slide 13
Slide 14: Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Vireo Health, Inc. Consolidated Statements of Loss and Comprehensive Loss Three Month Three Month Period Ended Period Ended For the Three Months Ended March 31, 2019 and 2018 March 31, March 31, (Expressed in United States Doll
Slide 15: Consolidated Statements of Financial Position
Vireo Health, Inc. Consolidated Statements of Financial Position Consolidated Statements of Financial Position March 31, 2019 and December 31, 2018 March 31, December 31, (Expressed in United States Dollars) 2019 2018 ASSETS Current Assets Cash $ 40,400,908 $ 9,624,110 Receivables 277,254 1,671,257
Slide 16: Reconciliation of IFRS to Non-IFRS Financial Measures
Reconciliation of IFRS to Non-IFRS Financial Measures Three Months Ended March 31, 2019 2018 Net income (loss) $ (3,446,759) $ (2,029,702) Listing expense 3,464,613 - Share-based compensation 201,187 1,130,324 Adjusted net income (loss) (non-IFRS) $ 219,041 $ (899,378) Net income (loss) $ (3,446,759
Slide 17: Reconciliation of IFRS to Non-IFRS Financial Measures (cont.): Revenue Bridge
Reconciliation of IFRS to Non-IFRS Financial Measures (cont.) REVENUE BRIDGE For the quarter ended March 31, 2019 Pro Forma Bridge US$ 1Q'19 Reported Revenue $ 5,777,792 Pro Forma Adjustments Arizona 975,179 New Mexico 262,286 Pro Forma Revenue $ 7,015,257 Reported revenue of $5.8 million in Q1 2019