C21 Investments Announces Q3 Results
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Net Income of $2.3 Million Highlights Strong Profitability
VANCOUVER, Dec. 16, 2020 /PRNewswire/ - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ( C21 or the Company ), a leading vertically integrated cannabis company, today announced unaudited results for its third quarter ended October 31, 2020.
Q3 Financial Highlights: (all currency in
U.S. dollars)
(August 1, 2020 to October 31, 2020):
Revenue of $9.5 million – a record $8.9 million from Nevada s retail operations with same-store sales up 5% from Q2
Gross Profit of $5.9 million; Gross Margin (before fair value adjustments) of 47.4%
Adjusted EBITDA
1 of $2.7 million, the seventh consecutive quarter of positive EBITDA
Cash Flow from Operations of $3.1 million; Year-to-Date results of $8.7 million, up 175% from last year