Vireo Growth Inc · CSE:VREO
Vireo Growth — Goodness Growth Holdings — Q3 2021 Earnings Presentation
13 slides from Vireo Growth's earnings presentation, Nov 10, 2021
Slide 1: Third Quarter 2021 Results
Third Quarter 2021 Results November 10, 2021
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/1664907 Webcast Registration: https://event.on24.com/wcc/r/3499604/611 86A068815380
Slide 4: Summary of Third Quarter Results
Summary of Third Quarter Results • GAAP revenue of $13.4 million increased 7.2 percent YoY, driven by organic growth in each of the Company’s various state markets. Excluding discontinued operations, revenue grew 27.6% YoY compared to Q3 of 2020. • Gross profit increased by $0.1 million to $5.1 mill
Slide 5: New Brands Built for Adult-Use Markets
New Brands Built for Adult-Use Markets Premium-grade cannabis handpicked and packaged, with deep aromatics and a smooth taste. Trusted Pharmaceutical-grade Products Geared Toward Patients. 5
Slide 6: New Brands Built for Adult-Use Markets
New Brands Built for Adult-Use Markets Sweet and delicious edible delights, adding colorful fun to help you enjoy the moment. High quality provenance flavors created by our very own Chef Michelle Mango. 6
Slide 7: Key Financial Metrics – Third Quarter 2021
Key Financial Metrics – Third Quarter 2021 Summary of Key Financial Metrics Three Months Ended Nine Months Ended US $ in millions September 30, September 30, 2021 2020 Variance 2021 2020 Variance GAAP Revenue $13.4 $12.5 7.2% $40.8 $36.8 10.9% Revenue (excl. former PA and OH subsidiaries) $13.4 $10.
Slide 8: Third Quarter 2021 Performance
Third Quarter 2021 Performance • Q3 revenue excluding results from the Company’s former subsidiaries in Pennsylvania and Ohio increased 27.6 percent YoY to $13.4 million, and declined 6.0% sequentially compared to Q2 of 2021. • Adjusted EBITDA loss was $1.9 million, compared to a loss of $0.6 millio
Slide 9: Q&A Session
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Slide 10: Consolidated Balance Sheets
GOODNESS GROWTH HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS AS OF 9/30/21 AND 12/31/20 September 30, December 31, (Amounts Expressed in USD, Except for Share Amounts, Unaudited and Condensed) 2021 2020 Assets Current assets: Cash $ 11,779,295 $ 25,513,180 Restricted cash - 1,592,500 Accounts receivab
Slide 11: Consolidated Statements of Operations
GOODNESS GROWTH HOLDINGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020 Three Months Ended September 30, Nine Months Ended September 30, (Amounts Expressed in USD, Except for Share Amounts, Unaudited and Condensed) 2021 2020 2021 2020 Revenue $ 13
Slide 12: Consolidated Statements of Cash Flows
GOODNESS GROWTH HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020 Nine Months Ended September 30, (Amounts Expressed in USD, Except for Share Amounts, Unaudited and Condensed) 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (18,710,407) $ (2
Slide 13: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Net income (loss) $ (6,243,231) $ 2,952,004 $ (18,710,407) $ (20,676,352) Interest expense, net 2,254,553 1,255,656 6,037,057 4,249,090 Income taxes 560,000 6,00
Goodness Growth Holdings — Q3 2021 Earnings Presentation on 6ix