Tilray, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY), a global pioneer in cannabis research, cultivation, production and distribution, today reported financial results for the full fiscal year and fourth quarter ended December 31, 2020. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
Brendan Kennedy, Tilray’s Chief Executive Officer, stated, “Over the course of 2020, and despite COVID-19 related challenges, we transformed and strengthened Tilray, delivered solid full year results, significantly reduced net loss, and achieved our stated goal of delivering break even or positive Adjusted EBITDA in Q4 2020. We did so by generating meaningful revenue growth across our core businesses, particularly international medical and Canadian adult-use in Q4, and reducing costs by $57 million on an annualized basis compared to Q4 of 2019. As a result, we now operate with a more focused, efficient and competitive cost structure. We also strengthened our balance sheet and positioned Tilray for growth and success in the future in combination with Aphria. These results required hard work and dedication and I sincerely appreciate everything the Tilray team has done to transform our business during 2020. We now look forward to the beginning of the next chapter in our corporate journey.”
Mr. Kennedy continued, “Amid an acceleration of regulatory changes and an increasingly-favorable political environment, our proposed merger with Aphria will position the combined company as a global leader with lowest cost of production, leading brands, a well-developed distribution network, and unique partnerships. Finally, and as previously stated, the ‘new’ Tilray will achieve over C$100 million in anticipated pre-tax synergies. The aggregate impact of these value drivers provides confidence that the ‘new’ Tilray will generate significant value for stockholders.”
As announced on December 16, 2020, Tilray will combine businesses with Aphria Inc. and create the world’s largest global cannabis company based on pro forma revenue. Following the close of this transaction, which is expected in the second quarter of 2021, the combined company will operate under the Tilray corporate name with shares trading on Nasdaq under ticker symbol “TLRY”. Completion of the business combination is subject to regulatory and court approvals and other customary closing conditions, including the approval of Tilray and Aphria stockholders.
Fourth Quarter 2020 Financial Highlights
TILRAY, INC. | ||||||||||||||||||||||||||
Revenue by Product | ||||||||||||||||||||||||||
(In thousands of United States dollars, except for percentage data) | ||||||||||||||||||||||||||
Three months ended December 31, | Twelve months ended December 31, | |||||||||||||||||||||||||
| 2020 |
| 2019 | $ Change | % Change |
| 2020 |
| 2019 | $ Change | % Change | |||||||||||||||
Cannabis | ||||||||||||||||||||||||||
Adult-use | $ | 25,362 | $ | 17,005 | $ | 8,357 |
| 49 | % | $ | 83,828 | $ | 55,763 | $ | 28,065 |
| 50 | % | ||||||||
Canada - medical |
| 4,204 |
| 3,333 |
| 871 |
| 26 | % |
| 15,489 |
| 12,556 |
| 2,933 |
| 23 | % | ||||||||
International - medical |
| 11,666 |
| 4,008 |
| 7,658 |
| 191 | % |
| 33,886 |
| 13,378 |
| 20,508 |
| 153 | % | ||||||||
Bulk |
| — |
| 3,924 |
| (3,924 | ) | (100 | )% |
| 402 |
| 25,450 |
| (25,048 | ) | (98 | )% | ||||||||
Total Cannabis revenue | $ | 41,232 | $ | 28,270 | $ | 12,962 |
| 46 | % | $ | 133,605 | $ | 107,147 | $ | 26,458 |
| 25 | % | ||||||||
Hemp |
| 15,328 |
| 18,665 |
| (3,337 | ) | (18 | )% |
| 76,877 |
| 59,832 |
| 17,045 |
| 28 | % | ||||||||
Total | $ | 56,560 | $ | 46,935 | $ | 9,625 |
| 21 | % | $ | 210,482 | $ | 166,979 | $ | 43,503 |
| 26 | % | ||||||||
Excise duties included in revenue | $ | 5,818 | $ | 4,429 | $ | 1,389 |
| 31 | % | $ | 19,143 | $ | 13,136 | $ | 6,007 |
| 46 | % |
2020 Financial Highlights
Recent Business Developments Reflect Strong, Ongoing Global Growth and Opportunity
Progress on Expanding International Medical Business and Canadian Adult-Use Product Line
Progress on Strengthening Balance Sheet and Improving Financial Condition
Conference Call
Tilray will host a conference call to discuss these results today at 5:00 p.m. ET. Investors interested in participating in the live call can dial 877-407-0792 from the U.S. and 201-689-8263 internationally.
There will also be a simultaneous, live webcast available on the Investors section of the Company’s website at www.tilray.com. The webcast will also be archived after the call concludes.
About Tilray®
Tilray is a global pioneer in the research, cultivation, production, and distribution of cannabis and cannabinoids, currently serving tens of thousands of patients and consumers in 17 countries spanning five continents.
Forward Looking Statements
This press release contains “forward-looking statements”, which may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, including statements regarding Aphria’s and Tilray’s strategic business combination and the expected terms, timing and closing of the combination, estimates of pro-forma financial information of the combined company, estimates of future cost reductions, synergies including pre-tax synergies, savings and efficiencies, value for stockholders, our growth potential, the sustainability of growth, the optimization of our facilities and estimated net savings, demand for our products and the medical and Adult-Use cannabis markets, anticipated plans for strategic partnerships and acquisitions, and future sales of our common stock. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements. Please see the heading “Risk Factors” in Tilray’s Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission on November 9, 2020, for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. Tilray does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
Use of Non-U.S. GAAP Financial Measures
To supplement its financial statements, the Company provides investors with information related to Adjusted EBITDA and gross margin, excluding inventory valuation adjustments, both of which are financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”).
Adjusted EBITDA is calculated as net income (loss) before inventory valuation adjustments; interest expenses, net; other expenses (income), net; deferred income tax (recoveries) expenses, current income tax expenses (benefit); foreign exchange gain (loss), net; depreciation and amortization expenses; stock-based compensation expenses; loss from equity method investments; finance income from ABG; loss on disposal of property and equipment; amortization of inventory step-up; severance costs; impairment of assets; and change in fair value of warrant liability. A reconciliation of Adjusted EBITDA to net loss, the most directly comparable GAAP measure, has been provided in the financial statement tables included below in this press release. Gross margin, excluding inventory valuation adjustments and stock-based compensation, is calculated as revenue less cost of sales adjusted to add back inventory valuation adjustments and amortization of inventory step-up, and stock-based compensation divided by revenue. A reconciliation of Gross margin, excluding inventory valuation adjustments and stock-based compensation, to gross margin, the most directly comparable GAAP measure, has been provided in the financial statement tables included below in this press release.
The Company believes these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. Management uses these non-GAAP financial measures to compare the Company's performance to that of prior periods for trend analyses and planning purposes. These non-GAAP financial measures are also presented to the Company’s Board of Directors.
Non-U.S. GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP. Non-U.S. GAAP measures exclude significant expenses that are required by U.S. GAAP to be recorded in the Company's financial statements and are subject to inherent limitations.
Additional Information About the Tilray and Aphria Business Combination and Where to Find It
This news release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. This statements in this press release in respect of the proposed transaction involving Aphria and Tilray pursuant to the terms of an arrangement agreement by and among Aphria and Tilray may be deemed to be soliciting material relating to the proposed transaction.
In connection with the proposed transaction, Aphria will file a management information circular, and Tilray will file a proxy statement on Schedule 14A containing important information about the proposed transaction and related matters. Additionally, Aphria and Tilray will file other relevant materials in connection with the proposed transaction with the applicable securities regulatory authorities. Investors and security holders of Aphria and Tilray are urged to carefully read the entire management information circular and proxy statement (including any amendments or supplements to such documents), respectively, when such documents become available before making any voting decision with respect to the proposed transaction because they will contain important information about the proposed transaction and the parties to the transaction. The Aphria management information circular and the Tilray proxy statement will be mailed to the Aphria and Tilray shareholders, respectively, as well as be accessible on the SEDAR and EDGAR profiles of the respective companies.
Investors and security holders of Tilray will be able to obtain a free copy of the proxy statement, as well as other relevant filings containing information about Tilray and the proposed transaction, including materials that will be incorporated by reference into the proxy statement, without charge, at the SEC’s website (www.sec.gov) or from Tilray by contacting Tilray’s Investor Relations at (203) 682-8253, by email at This email address is being protected from spambots. You need JavaScript enabled to view it., or by going to Tilray’s Investor Relations page on its website at https://ir.tilray.com/investor-relations and clicking on the link titled “Financials.”
Participants in the Tilray Solicitation
Tilray and Aphria and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of Tilray proxies in respect of the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Tilray stockholders in connection with the proposed transaction will be set forth in the Tilray proxy statement for the proposed transaction when available. Other information regarding the participants in the Tilray proxy solicitation and a description of their direct and indirect interests in the proposed transaction, by security holdings or otherwise, will be contained in such proxy statement and other relevant materials to be filed with the SEC in connection with the proposed transaction. Copies of these documents may be obtained, free of charge, from the SEC or Tilray as described in the preceding paragraph.
TILRAY, INC. | ||||||||||||||||
Consolidated Statements of Net Loss and Comprehensive Loss | ||||||||||||||||
(In thousands of United States dollars, except for share and per share data) | ||||||||||||||||
Three months ended December 31, | Year ended December 31, | |||||||||||||||
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
| |||||
Revenue | $ | 56,560 |
| $ | 46,936 |
| $ | 210,482 |
| $ | 166,979 |
| ||||
Cost of sales |
| 39,918 |
|
| 103,943 |
|
| 185,827 |
|
| 190,475 |
| ||||
Gross profit |
| 16,642 |
|
| (57,007 | ) |
| 24,655 |
|
| (23,496 | ) | ||||
General and administrative expenses |
| 22,597 |
|
| 42,836 |
|
| 85,883 |
|
| 110,903 |
| ||||
Sales and marketing expenses |
| 6,638 |
|
| 22,741 |
|
| 54,666 |
|
| 63,813 |
| ||||
Research and development expenses |
| 928 |
|
| 2,450 |
|
| 4,411 |
|
| 9,172 |
| ||||
Depreciation and amortization expenses |
| 3,369 |
|
| 4,150 |
|
| 13,722 |
|
| 11,607 |
| ||||
Impairment of assets |
| 2,904 |
|
| 112,070 |
|
| 61,114 |
|
| 112,070 |
| ||||
Acquisition-related expenses (income), net |
| — |
|
| (24,861 | ) |
| — |
|
| (31,427 | ) | ||||
Loss from equity method investments |
| 1,488 |
|
| 2,667 |
|
| 5,983 |
|
| 4,504 |
| ||||
Operating loss |
| (21,282 | ) |
| (219,060 | ) |
| (201,124 | ) |
| (304,138 | ) | ||||
Foreign exchange (gain) loss, net |
| (18,593 | ) |
| (7,097 | ) |
| (13,169 | ) |
| (5,944 | ) | ||||
Change in fair value of warrant liability |
| 49,011 |
|
| — |
|
| 100,286 |
|
| — |
| ||||
Gain on debt conversion |
| (61,118 | ) |
| — |
|
| (61,118 | ) |
| — |
| ||||
Interest expenses, net |
| 9,072 |
|
| 8,685 |
|
| 39,219 |
|
| 34,690 |
| ||||
Finance income from ABG |
| — |
|
| (207 | ) |
| — |
|
| (764 | ) | ||||
Other expense (income), net |
| 5,387 |
|
| 3,572 |
|
| 10,333 |
|
| (2,501 | ) | ||||
Loss before income taxes |
| (5,041 | ) |
| (224,013 | ) |
| (276,675 | ) |
| (329,619 | ) | ||||
Deferred income tax (recoveries) |
| (1,363 | ) |
| (4,860 | ) |
| (5,376 | ) |
| (8,847 | ) | ||||
Current income tax (recoveries) expenses |
| (731 | ) |
| (5 | ) |
| (226 | ) |
| 397 |
| ||||
Net loss | $ | (2,947 | ) | $ | (219,148 | ) | $ | (271,073 | ) | $ | (321,169 | ) | ||||
Net loss per share - basic and diluted | $ | (0.02 | ) | $ | (2.14 | ) | $ | (2.15 | ) | $ | (3.20 | ) | ||||
Weighted average shares used in computation of net loss per share - basis and diluted |
| 143,819,967 |
|
| 102,405,607 |
|
| 126,041,710 |
|
| 100,455,677 |
| ||||
Net loss |
| (2,947 | ) |
| (219,148 | ) |
| (271,073 | ) |
| (321,169 | ) | ||||
Foreign currency translation (loss) gain, net |
| 5,687 |
|
| 7,588 |
|
| (1,497 | ) |
| 5,174 |
| ||||
Unrealised loss on investments |
| (171 | ) |
| (101 | ) |
| (17 | ) |
| (21 | ) | ||||
Other comprehensive income (loss) |
| 5,516 |
|
| 7,487 |
|
| (1,514 | ) |
| 5,153 |
| ||||
Comprehensive income (loss) | $ | 2,569 |
| $ | (211,661 | ) | $ | (272,587 | ) | $ | 316,016 |
| ||||
As stated in our Form-10K, share-based compensation expenses have been reclassified to their respective functional lines in the Consolidated Statements of Net Loss and Comprehensive loss. This was adjusted retrospectively for 2018, 2019 and 2020 and applied in the fourth quarter of 2020.
TILRAY, INC. | ||||||||
Consolidated Balance Sheets | ||||||||
(In thousands of United States dollars, except for share and par value data) | ||||||||
December 31, 2020 | December 31, 2019 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 189,702 |
| $ | 96,791 |
| ||
Accounts receivable, net of allowance for credit losses of $887 and provision for sales returns of $1,651 (December 31, 2019 - $615 and $1,400, respectively) |
| 29,033 |
|
| 36,202 |
| ||
Inventory |
| 93,645 |
|
| 87,861 |
| ||
Prepayments and other current assets |
| 34,640 |
|
| 38,173 |
| ||
Total current assets |
| 347,020 |
|
| 259,027 |
| ||
Property and equipment, net |
| 199,559 |
|
| 184,217 |
| ||
Operating lease, right-of-use assets |
| 17,985 |
|
| 17,514 |
| ||
Intangible assets, net |
| 186,445 |
|
| 228,828 |
| ||
Goodwill |
| 166,915 |
|
| 163,251 |
| ||
Equity method investments |
| 9,300 |
|
| 11,448 |
| ||
Other investments |
| 14,369 |
|
| 24,184 |
| ||
Other assets |
| 4,356 |
|
| 7,861 |
| ||
Total assets | $ | 945,949 |
| $ | 896,330 |
| ||
Liabilities | ||||||||
Current liabilities | ||||||||
Accounts payable |
| 17,776 |
|
| 39,125 |
| ||
Accrued expenses and other current liabilities |
| 39,946 |
|
| 50,829 |
| ||
Accrued lease obligations |
| 2,913 |
|
| 2,473 |
| ||
Warrant liability |
| 120,647 |
|
| — |
| ||
Total current liabilities |
| 181,282 |
|
| 92,427 |
| ||
Accrued lease obligations |
| 30,623 |
|
| 29,407 |
| ||
Deferred tax liability |
| 49,274 |
|
| 53,363 |
| ||
Convertible notes, net of issuance costs |
| 257,789 |
|
| 430,210 |
| ||
Senior Facility, net of transaction costs |
| 48,470 |
|
| — |
| ||
Other liabilities |
| 4,612 |
|
| 5,652 |
| ||
Total liabilities | $ | 572,050 |
| $ | 611,059 |
| ||
Commitments and contingencies |
|
|
|
| ||||
Stockholders’ equity | ||||||||
Convertible Preferred stock ($0.0001 par value, 10,000,000 shares authorized and none issued or outstanding at December 31, 2018; none authorized, issued or outstanding at December 31, 2017) |
| — |
|
| — |
| ||
Class 1 common stock ($0.0001 par value, 233,333,333 and 250,000,000 shares authorized; 0 and 16,666,667 shares issued and outstanding) |
| — |
|
| 2 |
| ||
Class 2 common stock ($0.0001 par value; 500,000,000 shares authorized; 158,456,087 and 86,114,558 shares issued and outstanding, respectively) |
| 16 |
|
| 9 |
| ||
Class 3 common stock ($0.0001 par value, none authorized, issued or outstanding at December 31, 2018; none authorized, issued or outstanding at December 31, 2017) | ||||||||
Additional paid-in capital |
| 1,095,781 |
|
| 705,671 |
| ||
Accumulated other comprehensive income |
| 8,205 |
|
| 9,719 |
| ||
Accumulated deficit |
| (730,103 | ) |
| (430,130 | ) | ||
Total stockholders' equity | $ | 373,899 |
| $ | 285,271 |
| ||
Total liabilities and stockholders' equity | $ | 945,949 |
| $ | 896,330 |
|
TILRAY, INC. | |||||||||||||||
Adjusted EBITDA | |||||||||||||||
(In thousands of United States dollars) | |||||||||||||||
Three months ended December 31, | Year ended December 31, | ||||||||||||||
2020 |
| 2019 |
| 2020 |
| 2019 |
| ||||||||
Adjusted EBITDA reconciliation: | |||||||||||||||
Net loss | $ | (2,949 | ) | $ | (219,148 | ) | $ | (271,073 | ) | $ | (321,169 | ) | |||
Inventory valuation adjustments | 2,303 |
| 67,857 |
| 38,419 |
| 68,583 |
| |||||||
Severance costs | 1,288 |
| — |
| 4,864 |
| — |
| |||||||
Depreciation and amortization expenses | 4,422 |
| 5,389 |
| 18,654 |
| 15,849 |
| |||||||
Stock-based compensation expenses | 6,312 |
| 9,539 |
| 29,716 |
| 31,842 |
| |||||||
Other stock-based compensation related expenses | — |
| 8,411 |
| — |
| 8,411 |
| |||||||
Gain on debt conversion | (61,118 | ) | — |
| (61,118 | ) | — |
| |||||||
Impairment of assets | 2,904 |
| 112,070 |
| 61,114 |
| 112,070 |
| |||||||
Loss from equity method investments | 1,488 |
| 2,667 |
| 5,983 |
| 4,504 |
| |||||||
Foreign exchange (gain) loss, net | (18,593 | ) | (7,097 | ) | (13,169 | ) | (5,944 | ) | |||||||
Change in fair value of warrant liability | 49,011 |
| — |
| 100,286 |
| — |
| |||||||
Interest expenses, net | 9,072 |
| 8,685 |
| 39,219 |
| 34,690 |
| |||||||
Finance income from ABG | — |
| (207 | ) | — |
| (764 | ) | |||||||
Loss from disposal of property and equipment | 958 |
| 2,324 |
| 1,851 |
| 2,436 |
| |||||||
Other expenses (income), net | 9,244 |
| (21,177 | ) | 20,573 |
| (33,928 | ) | |||||||
Amortization of inventory step-up | — |
| — |
| — |
| 2,041 |
| |||||||
Deferred income tax recoveries | (1,363 | ) | (4,860 | ) | (5,376 | ) | (8,847 | ) | |||||||
Current income tax (recoveries) expenses | (731 | ) | (5 | ) | (226 | ) | 397 |
| |||||||
Adjusted EBITDA | $ | 2,248 |
| $ | (35,552 | ) | $ | (30,283 | ) | $ | (89,829 | ) | |||
TILRAY, INC. | ||||||||||||||||||||||||
Gross Margin | ||||||||||||||||||||||||
(In thousands of United States dollars, except for percentage data) | ||||||||||||||||||||||||
For the three months ended December 31, | ||||||||||||||||||||||||
Cannabis | Hemp | Total | ||||||||||||||||||||||
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
| |||||||
Revenue | $ | 41,232 |
| $ | 28,270 |
| $ | 15,328 |
| $ | 18,665 |
| $ | 56,560 |
| $ | 46,935 |
| ||||||
Cost of sales | ||||||||||||||||||||||||
Product costs |
| 26,152 |
|
| 23,864 |
|
| 9,900 |
|
| 12,221 |
|
| 36,052 |
|
| 36,085 |
| ||||||
Inventory valuation adjustments |
| 2,753 |
|
| 62,922 |
|
| (450 | ) |
| 4,935 |
|
| 2,303 |
|
| 67,857 |
| ||||||
Stock-based compensation expenses |
| 1,292 |
|
| — |
|
| 271 |
|
| — |
|
| 1,563 |
|
| — |
| ||||||
Gross profit (loss) |
| 11,035 |
|
| (58,516 | ) |
| 5,607 |
|
| 1,509 |
|
| 16,642 |
|
| (57,007 | ) | ||||||
Inventory valuation adjustments |
| 2,753 |
|
| 62,922 |
|
| (450 | ) |
| 4,935 |
|
| 2,303 |
|
| 67,857 |
| ||||||
Stock-based compensation expenses | 1,292 | — | 271 | — | 1,563 | — | ||||||||||||||||||
Gross profit, excluding inventory valuation adjustments and stock-based compensation expenses | $ | 15,080 |
| $ | 4,406 |
| $ | 5,428 |
| $ | 6,444 |
| $ | 20,508 |
| $ | 10,850 |
| ||||||
Gross margin, excluding inventory valuation adjustments and stock-based compensation expenses |
| 37 | % |
| 16 | % |
| 35 | % |
| 35 | % |
| 36 | % |
| 23 | % | ||||||
For the year ended December 31, | ||||||||||||||||||||||||
Cannabis | Hemp | Total | ||||||||||||||||||||||
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
| |||||||
Revenue | $ | 133,605 |
| $ | 107,147 |
| $ | 76,877 |
| $ | 59,832 |
| $ | 210,482 |
| $ | 166,979 |
| ||||||
Cost of sales | ||||||||||||||||||||||||
Product costs |
| 101,509 |
|
| 84,876 |
|
| 44,336 |
|
| 35,395 |
| $ | 145,845 |
| $ | 120,271 |
| ||||||
Inventory valuation adjustments |
| 34,379 |
|
| 63,532 |
|
| 4,040 |
|
| 5,050 |
| $ | 38,419 |
| $ | 68,582 |
| ||||||
Stock-based compensation expenses |
| 1,292 |
|
| 1,041 |
|
| 271 |
|
| 581 |
|
| 1,563 |
|
| 1,622 |
| ||||||
Gross profit (loss) |
| (3,575 | ) |
| (42,302 | ) |
| 28,230 |
|
| 18,806 |
| $ | 24,655 |
| $ | (23,496 | ) | ||||||
Inventory valuation adjustments |
| 34,379 |
|
| 63,532 |
|
| 4,040 |
|
| 5,050 |
| $ | 38,419 |
| $ | 68,582 |
| ||||||
Amortization of inventory step-up |
| — |
|
| — |
|
| — |
|
| 2,041 |
| $ | — |
| $ | 2,041 |
| ||||||
Stock-based compensation expenses |
| 1,292 |
|
| 1,041 |
|
| 271 |
|
| 581 |
| $ | 1,563 |
| $ | 1,622 |
| ||||||
Gross profit, excluding inventory valuation adjustments and stock-based compensation expenses | $ | 32,096 |
| $ | 22,271 |
| $ | 32,541 |
| $ | 26,478 |
| $ | 64,637 |
| $ | 48,749 |
| ||||||
Gross margin, excluding inventory valuation adjustments and stock-based compensation expenses |
| 23 | % |
| 20 | % |
| 42 | % |
| 43 | % |
| 30 | % |
| 28 | % |
Last Trade: | US$1.84 |
Daily Change: | 0.12 6.98 |
Daily Volume: | 18,046,491 |
Market Cap: | US$1.420B |
April 09, 2024 April 04, 2024 March 21, 2024 |
Sienna Resources is at the forefront of the battery metals revolution. The company is one of the largest landholders in the prolific Clayton Valley district, which is the only lithium producing region in the United States and located just miles...
CLICK TO LEARN MOREGreenPower Motor designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van, and a cab and chassis...
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