Vireo Growth Inc · CSE:VREO
Vireo Growth — Q2 2019 Earnings Presentation
12 slides from Vireo Growth's earnings presentation, Aug 29, 2019
Slide 1: Q2 2019 Earnings Conference Call
Q2 2019 Earnings Conference Call August 29, 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 4049456 Amber Shimpa Chief Financial Officer Webcast Link: https://event.on24.com/wcc/r/2017900/B871 0A01DFA2DD42982C3938C4A52287
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 Q2 2019 Results Conference Call || 4
Slide 5: Second Quarter 2019 Business Highlights
Second Quarter 2019 Business Highlights • Vireo generated revenue in six states in the second quarter 2019: Arizona, Maryland, Minnesota, New Mexico, New York, and Pennsylvania. • Second quarter revenue increased 70 percent year- over-year to $7.2 million, with growth mainly driven by newly acquired
Slide 6: Key Second Quarter 2019 Financial Metrics
Key Second Quarter 2019 Financial Metrics Three Months Ended Six Months Ended June 30, June 30, $ in millions 2019 2018 Variance 2019 2018 Variance Revenue $7.2 $4.2 $3.0 $13.0 $7.9 $5.1 Gross Profit Before Fair Value Adjustments $2.5 $2.4 $0.1 $5.2 $4.2 $1.0 % Margin 35.3% 56.6% -2,134 bps 40.4% 53
Slide 7: Second Quarter 2019 Performance
Second Quarter 2019 Performance • Total revenue for the second quarter of 2019 increased 70 percent year-over-year to $7.2 million. • Growth was driven by newly acquired entities in Arizona and New Mexico, as well as legacy market growth in Minnesota and New York and the beginning of wholesale reven
Slide 8: 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 9: Slide 9
Slide 10: Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) || 10
Slide 11: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position || 11
Slide 12: 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, 2019 2018 2019 2018 Net income (loss) $ (1,872,457) $ 120,080 $ (5,319,214) $ (1,909,622) Listing expense - - 3,464,611 - Acquisition related costs 772,110 - 772,110 - Write down of inventory