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Hydropothecary's Q3 2017 Financial Results Breakdown

June 29, 2017

 

This morning, The Hydropothecary Corp. (TSXV:THCX) (OTC:HYYDF) announced the company's financial results for their fiscal third quarter ended April 30th 2017. Here are some highlights from the company's earnings release:

 

Financial Highlights

 

  • Revenues in the third quarter of 2017 were $1,182,497 CAD, up 91.6% from the third quarter of 2016. This growth in revenues is attributable to a significant increase in the number of patients on a period-over-period basis. 

  • Average revenue per gram decreased to $8.62 CAD per gram in the quarter due to the effects of changes in Veteran's Affairs Canada's reimbursement policies and Hydropothecary's launch of a mid-market product line. 

  • Cash cost of inventory per gram was $1.32 CAD, down 10.2% from the previous quarter. This decrease was attributable to improvements in cultivation processes. 

  • Operating expenses were $2,385,018 CAD in the third quarter of 2017. This was an increase of 155.4% from the year ago quarter. This increase was attributable to increased customer acquisition costs.

  • Loss in Adjusted EBITDA grew to a loss of $1,195,932 CAD, versus a loss of $444,145 CAD in the third quarter of last year. 

  • Net loss in the quarter was $11,808,264, a significantly bigger loss than the third quarter last year. 

  • Net loss per share, basic and diluted was $0.17 CAD, once again a much bigger loss than Hydropothecary's loss of $0.01 CAD in the third quarter of 2016. 

  • Weighted average number of shares outstanding was 67,563,381 as of the end of the third quarter. 

  • Cash on hand was $19,314,942 CAD as of April 30th, 2017. 

  • Hydropothecary's deficit increased to 20,719,109 as of the end of the third quarter. 

 

Operating Highlights (in Q3'17 and subsequent to the quarter)

 

 

Conclusion
 
We're working on a marijuana stock profile for The Hydropothecary Corp. so be sure to check back soon. In the meantime, check out some of the other publicly traded licensed producers in our Canadian L.P. database
 
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Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.

 

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