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Sundial Q1 2021 Adj EBITDA $3.3M

Earnings from operations of $1.7 million compared to a loss from operations of $32.7 million in the prior quarter.   Net loss of $134.4 million as a result of $130.0

05/11/2021 18:01
  • Earnings from operations of $1.7 million compared to a loss from operations of $32.7 million in the prior quarter.


     
  • Net loss of $134.4 million as a result of $130.0 million of non-cash amounts reflecting the impact of share price volatility on accounting valuation of derivative warrants.


     
  • Achieved first quarter of positive adjusted EBIDTA in Sundial's history, at $3.3 million compared to an adjusted EBIDTA loss of $5.6 million in the prior quarter.


     
  • $969.5 million unrestricted cash, marketable securities and long-term investments on hand at March 31, 2021 and $1.08 billion at May 7, 2021 with no outstanding debt.


     
  • Investment balance of $96.0 million at March 31, 2021 in cannabis-related loans and marketable securities generated income of $15.7 million for the quarter.


     
  • Gross cannabis revenue was $11.7 million, a decrease of 30% from the prior quarter.


     
    • Subsequent to the quarter end, announced an agreement to acquire Inner Spirit Holdings and Spiritleaf retail cannabis network.