Cannabis company
Vext Science, Inc. (OTCQX:VEXTF) (CSE:VEXT) released its first-quarter unaudited financial results on Wednesday with revenue of $9.16 million, compared to $4.1 million in the same period of 2020.
Financial Highlights
The company’s gross margin for the period was 45.4%, which compares to 29.4% in the corresponding quarter of the prior year;
Its net income after taxes amounted to $1.14 million, compared to a loss of $971,020 in the first quarter of 2020;
Earnings per share fully diluted were $0.01, which compares to a loss per share of $0.01 in the same period last year;
Vext achieved a positive adjusted EBITDA in the quarter of $3.06 million, compared to an adjusted EBITDA loss of $74,717 in the first quarter of 2020.