Montreal-based company, The Good Shroom (TSTX:MUSH), announced its financial results for the quarter ended on April 30, 2024. The report includes results for the subsidiary Teonan Biomedical Inc.
"The consistent profitability this quarter, despite a challenging market, highlights our focused execution and strategic adaptations," stated Eric Ronsse, CEO. This quarter marks the company's fifth consecutive profitable quarter, emphasizing its resilience and operational efficiency.
Year-Over-Year Financial Highlights:
- Gross Revenue: The company reported a slight decrease in quarterly sales, amounting to $1,135,991 compared to $1,266,186 in the same quarter last year. This marks a decrease of approximately 10.3%
- Net Profit: There was an improvement in net profitability. Net profits rose to $30,840 from $13,660 the previous year, reflecting an effective cost-cutting strategy.
"The slight drop-off in sales can be explained by less overall demand resulting from price competition and increased product assortment" reads the Management Discussion & Analysis report.
Operational Highlights:
- Cannabis products accounted for 96% of revenue and the company continues to lead with innovation, notably in its development of THC-infused pouches. This product is aimed at offering a competitive edge in the market. It also leverages a popular consumption method akin to nicotine pouches, but with THC. This Innovation could position The Good Shroom Co. as a pioneer in this segment.
- The emphasis on strategic growth is reflected in the decision to expand beyond Quebec, where 90% of their sales for the quarter happened.
- The Good Shroom owes no outstanding excise taxes or debt, which is an outstanding issue for other companies in Canada.
Read also: Tax Debt Crisis: Struggling Cannabis Producers In Canada Pushed To Breaking Point
Stock Options For Board Members
On June 20, 2024, The Good Shroom Co issued stock options to each board member and the CFO. Stocks totaled 100,000, with an exercise price set at $0.11 per share. Value corresponds to the closing price of stocks on the TSX Venture Exchange as of June 19, 2024. These options are set to expire on June 19, 2032.
總部位於蒙特利爾的公司The Good Shroom（TSTX: MUSH）公佈了截至2024年4月30日的季度財務業績。該報告包括子公司Teonan Biomedical Inc的業績。
首席執行官埃裏克·龍斯表示：“儘管市場充滿挑戰，但本季度持續的盈利能力凸顯了我們專注的執行和戰略調整。”本季度是該公司連續第五個季度盈利，凸顯了其彈性和運營效率。
同比財務亮點：
- 總收入：該公司報告季度銷售額略有下降，爲1,135,991美元，而去年同期爲1,266,186美元。這標誌着下降了大約 10.3%
- 淨利潤：淨盈利能力有所改善。淨利潤從去年的13,660美元增至30,840美元，這反映了有效的削減成本戰略。
管理層討論與分析報告寫道：“銷售額略有下降可以用價格競爭和產品種類增加導致整體需求減少來解釋。”
運營亮點：
- 大麻產品佔收入的96％，該公司繼續在創新方面處於領先地位，特別是在開發注入四氫大麻酚的袋子方面。該產品旨在提供市場競爭優勢。它還利用了一種流行的消費方式，類似於尼古丁袋，但含有四氫大麻酚。這項創新可能會使The Good Shroom Co. 成爲該領域的先驅。
- 將業務擴展到魁北克以外的地區這一決定反映了對戰略增長的重視，他們本季度90％的銷售額來自魁北克。
- Good Shroom沒有未繳的消費稅或債務，這對加拿大其他公司來說是一個懸而未決的問題。
另請閱讀：稅收債務危機：加拿大陷入困境的大麻生產商已走向臨界點
董事會成員的股票期權
2024年6月20日，The Good Shroom Co向每位董事會成員和首席財務官發行了股票期權。股票總額爲10萬股，行使價定爲每股0.11美元。價值對應於截至2024年6月19日多倫多證券交易所風險交易所股票的收盤價。這些期權定於2032年6月19日到期。
