SLANG shares surge despite flat earnings in fiscal 22, here’s what you…

SLANG shares surge despite flat earnings in fiscal 22, here’s what you…

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SLANG Worldwide. SLGWF SLNG Revenue from continuing operations for fiscal 2022 was C$38.19 million(US$28 million) compared to CA$37.78 million in fiscal 2021, which includes a 1% increase year-on-year.

Financial year 2022 highlights

  • Gross profit was $16.45 million compared to $15.13 million in FY2021.

  • Adjusted gross profit of $17.62 million (46% adjusted gross margin) in fiscal 2022 compared to $14.47 million adjusted gross profit (38% adjusted gross margin) in fiscal 2021, an increase of 22% year over year.

  • Adjusted EBITDA was negative CA$3.65 million compared to negative CA$5.63 million in FY2021.

  • Net loss was CA$30.27 million compared to CA$56.09 million in fiscal 2021.

  • CA$11.9 million in cash and blocked cash on December 31, 2022 compared to CA$20.83 million on December 31, 2021.

Q4 Financial Highlights 2022

  • Income from continuing operations for the three months ended December 31, 2022 was $11.78 million compared to $8.84 million for the three months ended December 31, 2021, an increase of 33% over the corresponds to the previous year.

  • Gross profit of $4.70 million (40% gross margin) in Q4 2022 compared to $4.10 million (46% gross margin) in Q4 2021, down 6% year-on-year.

  • Gross profit before fair value of biological assets was $5.70 million (48% gross margin) in Q4 2022 versus $3.34 million (38% gross margin) in Q4 2021, an increase of 71% compared to the previous year.

  • Adjusted EBITDA of negative CA$56,000 in Q4 2022 compared to negative CA$2.90 million in Q4 2021.

“2022 was a transformational year for SLANG and the company is showing exceptional financial performance relative to its peer group. ends in the first quarter of fiscal year 2023, which means that we have now achieved two consecutive quarters of positive operating results…



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