Vireo Growth Inc · CSE:VREO
Vireo Growth — Vireo Health International — Q2 2020 Earnings Presentation
12 slides from Vireo Growth's earnings presentation, Aug 26, 2020
Slide 1: Q2 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.” Q2 2020 Earnings Conference Call August 26, 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/7027889 Webcast Registration: https://event.on24.com/wcc/r/2551145/E033 Sam Gibbons
Slide 4: Second Quarter 2020 Highlights
Second 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 $12.2 million grew 70 percent year-over-year. Reported revenue, excluding contributions f
Slide 5: Key Second Quarter 2020 Financial Metrics
Key Second Quarter 2020 Financial Metrics Three Months Ended June 30, $ in millions, except per share data 2020 2019 Variance Total Revenue, Including Disc. Ops $12.2 $7.2 $5.0 Reported Results Revenue $10.8 $6.7 $4.0 Gross Profit (Before Fair Value Adjustments) $3.5 $3.0 $0.5 Gross Profit Margin 32
Slide 6: Second Quarter 2020 Performance
Second Quarter 2020 Performance • Reported revenue increased 59 percent year- over-year, driven by greater patient enrollment and average revenue per patient in Minnesota and New Mexico, contributions from new retail dispensaries in Pennsylvania, and wholesale growth in Maryland, New York and Ohio.
Slide 7: Slide 7
Slide 8: Consolidated Statements of Loss and Comprehensive Loss
VIREO HEALTH INTERNATIONAL, INC. Three Months Ended Three Months Ended Consolidated Statements of Loss and CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS June 30, June 30, For the Three Months Ended June 30, 2020 a nd 2019 Comprehensive Loss (Una udited - Expressed i n Unit
Slide 9: Consolidated Statements of Financial Position
VIREO HEALTH INTERNATIONAL, INC. Consolidated Statements of Financial Position CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION As a t June 30, 2020 a nd December 31, 2019 June 30, December 31, (Una udited - Expressed i n United States Dollars) 2020 2019 ASSETS Current Assets Cash $5,
Slide 10: Consolidated Statements of Cash Flows
VIREO HEALTH INTERNATIONAL, INC. Six Months Ended Six Months Ended Consolidated Statements of Cash Flows CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS For the Si x Months Ended June 30, 2020 a nd 2019 June 30, June 30, (Una udited - Expressed i n United States Dollars) 2020 2019 Cash Flows
Slide 11: Reconciliation of IFRS to Non-IFRS Financial Measures
Reconciliation of IFRS to Non-IFRS Financial Measures Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Net loss (8,977,461) (1,872,457) (11,001,240) (5,319,214) Net fair value adjustments (11,381,880) (4,272,905) (19,150,373) (9,244,373) Listing expense - - - 3,464,613 Gain
Slide 12: Reconciliation of IFRS to Non-IFRS Financial Measures
Reconciliation of IFRS to Non-IFRS Financial Measures Three Months Ended June 30, 2020 2019 Total O perating Expenses 15,435,703 5,428,506 Depreciation (497,793) (168,301) Share-based compensation (8,985,422) (255,765) Adjusted O perating Expenses 5,952,488 5,004,440 % of Revenue 55.3% 74.2% Q2 2020
Vireo Health International — Q2 2020 Earnings Presentation on 6ix