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Chalice Brands, previously operating under the name
Golden Leaf Holdings Ltd. (CSE:CHAL) (OTCQB:GLDFF) on Monday released its first-quarter earnings with record revenue of $5.5 million, up by 18% year-over-year.
Financial Highlights
The company’s revenue from continuing operations in the first quarter amounted to $5.5 million, which compares to $4.7 million in the first quarter of 2020; Chalice noted that the higher revenue could be attributed to the company’s development of retail and wholesale operations in Oregon;
Its gross profit for the period was $2.5 million, or 45% gross margin, compared to $1.7 million or 37% gross margin in the prior year; Higher margins are a result of better sales of vertical products produced by the company;