Vireo Growth Inc · CSE:VREO
Vireo Growth — Goodness Growth Holdings — Q2 2021 Earnings Presentation
11 slides from Vireo Growth's earnings presentation, Aug 13, 2021
Slide 1: Second Quarter 2021 Results
Second Quarter 2021 Results August 13, 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/9694714 Webcast Registration: https://event.on24.com/wcc/r/3192792/CA7 497843486CF4
Slide 4: Second Quarter Business Highlights
Second Quarter Business Highlights • Total revenue of $14.2 million increased 16.5 percent YoY, driven by organic growth and in the Company’s wholesale and retail sales channels. • Gross profit increased by $3.3 million to $6.9 million, or 48.6 percent of sales (a Company record) as compared to $3.6
Slide 5: Key Financial Metrics – Second Quarter 2021
Key Financial Metrics – Second Quarter 2021 Summary of Key Financial Metrics Three Months Ended Six Months Ended US $ in millions June 30, June 30, 2021 2020 Variance 2021 2020 Variance GAAP Revenue $14.2 $12.2 16.5% $27.4 $24.3 12.7% Revenue (excl. former PA and OH subsidiaries) $14.2 $9.8 44.5% $2
Slide 6: Second Quarter 2021 Performance
Second Quarter 2021 Performance • Q2 revenue excluding results from the Company’s former subsidiaries in Pennsylvania and Ohio increased 44.5 percent YoY to $13.2 million, and 8.0% sequentially compared to Q1 of 2021. • Adjusted EBITDA loss of $1.0 million improved compared to a loss of $1.8 million
Slide 7: Q&A Session
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Slide 8: Consolidated Balance Sheets
GOODNESS GROWTH HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS AS OF 6/30/21 AND 12/31/20 June 30, December 31, (Amounts expressed in USD, except for share amounts, unaudited and condensed) 2021 2020 Assets Current assets: Cash $ 20,826,356 $ 25,513,180 Restricted cash - 1,592,500 Accounts receivable, n
Slide 9: Consolidated Statements of Operations
GOODNESS GROWTH HOLDINGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (Amounts expressed in USD, except for share amounts, Three Months Ended June 30, Six Months Ended June 30, unaudited and condensed) 2021 2020 2021 2020 Revenue $ 14,230,900 $ 12,215
Slide 10: Consolidated Statements of Cash Flows
GOODNESS GROWTH HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2021 AND 2020 Six Months Ended June 30, (Amounts expressed in USD, except for share amounts, unaudited and condensed) 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (12,467,176) $ (23,628,355) A
Slide 11: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Net income (loss) $ (5,480,604) $ (16,115,334) $ (12,467,176) $ (23,628,355) Interest expense, net 2,756,358 1,543,169 3,782,504 2,993,433 Income taxes 910,000 369,900 2,41
Goodness Growth Holdings — Q2 2021 Earnings Presentation on 6ix