Cannabinoids-Focused Pharma Company, MediPharm, Sees Higher Q1 Revenue, CFO Touts 'Strong Financial Position'
Cannabinoids-Focused Pharma Company, MediPharm, Sees Higher Q1 Revenue, CFO Touts 'Strong Financial Position'
MediPharm Labs Corp. (TSX:LABS) (OTCQB:MEDIF) (FSE: MLZ) announced its financial results for the first quarter ended March 31, 2024. The pharmaceutical company specializing in precision-based cannabinoids revealed a revenue increase of 67% to $9.8 million versus revenue for the same quarter in 2023 of $5.8 million.
MediPharm Labs Corp.(多伦多证券交易所股票代码:LABS)(OTCQB: MEDIF)(FSE: MLZ)公布了截至2024年3月31日的第一季度财务业绩。这家专门生产精密大麻素的制药公司透露,收入增长了67%,达到980万美元,而2023年同期的收入为580万美元。
"This quarter shows another quarter of growing revenue, stronger gross profit, decreasing costs and improving Adjusted EBITDA," stated David Pidduck, CEO. "MediPharm's balance sheet is in an excellent position to consider future investments in growth. With Adjusted EBITDA getting close to breakeven, the leadership team can now devote even more energy to growing our business. Regulatory changes in Germany and Australia and potential upcoming changes in the US are all very favorable for the company."
首席执行官戴维·皮德杜克表示:“本季度收入又增长了一个季度,毛利润增强,成本下降和调整后息税折旧摊销前利润有所改善。”“MediPharm的资产负债表非常适合考虑未来的增长投资。随着调整后的息税折旧摊销前利润接近盈亏平衡,领导团队现在可以投入更多精力来发展我们的业务。德国和澳大利亚的监管变化以及美国即将发生的潜在变化都对公司非常有利。”
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Q1 Financial Summary
第一季度财务摘要
- Gross profit was $2.7 million or 27% which improved significantly versus the first quarter 2023 gross profit of 6.6% and versus the fourth quarter of last year of 24.3%.
- Adjusted EBITDA improved 70% to a loss of $900,000 from a loss of $3.1 million in the same period of 2023, and improved sequentially from a loss of $1.6 million in the prior quarter.
- Net loss amounted to $3.6 million, compared to a loss of $3.09 million in the same period of last year.
- As of March, 31, 2023 the company reported a balance sheet with $17 million in cash and less than $3 million in debt.
- 毛利为270万美元,增长27%,与2023年第一季度的6.6%和去年第四季度的24.3%相比显著改善。
- 调整后的息税折旧摊销前利润从2023年同期的310万美元亏损增长了70%,至亏损90万美元,并从上一季度的160万美元亏损连续增长。
- 净亏损为360万美元,而去年同期的亏损为309万美元。
- 截至2023年3月31日,该公司公布的资产负债表中现金为1,700万美元,债务不到300万美元。
Greg Hunter, CFO, MediPharm Labs added, "Q1 2024 was another step in the right direction towards profitability and becoming cash flow positive. Our revenue and Adjusted EBITDA were both the highest in over 3 years. Revenue was $9.8 million or 67% higher than the prior year and Adjusted EBITDA loss was $0.9 million which is $2.1 million better than the prior year. Our cash burn was approximately $1 million resulting in an ending cash balance of $17 million with less than $3 million of debt. MediPharm is in a strong financial position to capitalize on our strong suite of licenses, global customer contracts and assets as we strive for profitability in 2024."
MediPharm Labs首席财务官格雷格·亨特补充说:“2024年第一季度是朝着盈利和现金流为正的正确方向迈出的又一步。我们的收入和调整后的息税折旧摊销前利润均为3年多来的最高水平。收入为980万美元,比上年增长67%,调整后的息税折旧摊销前利润亏损为90万美元,比上年增长210万美元。我们的现金消耗约为100万美元,期末现金余额为1700万美元,债务不到300万美元。MediPharm的财务状况良好,可以利用我们强大的许可证、全球客户合同和资产,努力在2024年实现盈利。”
The company said it anticipates further improvement in profitability in 2024 with plans being implemented to improve Adjusted EBITDA by a further $1 million to $2 million, which plans include the ongoing optimization of production and logistics facilities.
该公司表示,预计2024年盈利能力将进一步提高,并计划将调整后的息税折旧摊销前利润再提高100万至200万美元,其中包括持续优化生产和物流设施。
Price Action
价格走势
MediPharm Labs shares traded flat at $26.44 per share during Wednesday's pre-market session.
在周三的盘前交易中,MediPharm Labs的股价持平至每股26.44美元。
Photo: Courtesy of Branding Pot via Shutterstock
照片:由 Branding Pot 通过 Shutterstock 提供