Vireo Growth Inc · CSE:VREO
Vireo Growth — Vireo Health International — Q1 2021 Earnings Presentation
12 slides from Vireo Growth's earnings presentation, May 14, 2021
Slide 1: Q1 2021 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.” Q1 2021 Earnings Conference Call May 14, 2021 - Kyle Kingsley, M.D. CSE: 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/2254847 Webcast Registration: https://event.on24.com/wcc/r/3081651/22E3 Sam Gibbons
Slide 4: First Quarter 2021 Business Highlights
First Quarter 2021 Business Highlights • Total revenue of $13.2 million increased 8.8 percent YoY, driven by organic growth and the successful execution of management’s core market strategies during the year. • Gross profit increased by $2.3 million to $5.6 million, or 42.6 percent of sales as compa
Slide 5: Green Goods Retail Dispensaries – Recent Openings in Maryland and Minnesota
Green Goods™ Retail Dispensaries – Recent Openings in Maryland and Minnesota Q1 2021 Results Conference Call || 5
Slide 6: Key Financial Metrics – First Quarter 2021
Key Financial Metrics – First Quarter 2021 Summary of Key Financial Metrics Three Months Ended US $ in millions March 31, 2021 2020 Variance GAAP Revenue $13.2 $12.1 8.8% Revenue (excl. former PA subsidiaries) $13.2 $10.2 29.8% GAAP Gross Profit $5.6 $3.3 71.3% Gross Profit Margin 42.6% 27.0% 1,560
Slide 7: First Quarter 2021 Performance
First Quarter 2021 Performance • Q1 revenue excluding results from the Company’s former subsidiaries in Pennsylvania increased 29.8 percent YoY to $13.2 million, and 14.0% sequentially compared to Q4 of last year. • Adjusted EBITDA loss of $1.8 million improved compared to a loss of $3.1 million in
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Slide 9: Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020
Consolidated Balance Sheets as of VIREO HEALTH INTERNATIONAL, INC. CONSOLIDATED BALANCE SHEETS AS OF 3/31/21 AND 12/31/20 March 31, December 31, March 31, 2021 and December 31, 2020 (Amounts expressed in USD, except for share amounts, unaudited and condensed) Assets 2021 2020 Current assets: Cash $
Slide 10: Consolidated Statements of Operations Three Months Ended March 31, 2021 and 2020
Consolidated Statements of Operations VIREO HEALTH INTERNATIONAL, INC. Three Months Ended March 31, 2021 and 2020 CONSOLIDATED STATEMENTS OF OPERATIONS THREE MONTHS ENDED MARCH 31, 2021 AND 2020 Three Months Ended March 31, (Amounts expressed in USD, except for share amounts, unaudited and condensed
Slide 11: Consolidated Statements of Cash Flows Three Months Ended March 31, 2021 and 2020
VIREO HEALTH INTERNATIONAL, INC. Consolidated Statements of Cash Flows CONSOLIDATED STATEMENTS OF CASH FLOWS THREE MONTHS ENDED MARCH 31, 2021 AND 2020 Three Months Ended March 31, Three Months Ended March 31, 2021 and 2020 (Amounts expressed in USD, except for share amounts, unaudited and condensed
Slide 12: Reconciliation of Non-GAAP to GAAP Financial Measures
Reconciliation of Non-GAAP to GAAP Financial Measures Three Months Ended March 31, 2021 2020 Net income (loss) $ (6,986,572) $ (7,513,021) Interest expense, net 1,026,146 1,450,264 Income taxes 1,500,000 427,100 Depreciation & Amortization 378,005 157,156 Depreciation included in cost of goods sold
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