Yield Growth Reports Q3 Results with Consistent Revenue Growth over 6 Consecutive Quarters with Revenue of $1.9 Million in Q3, up 61% from Q2
FQ1: 10-22-19 Earnings Summary
10-Q Transcript Slides
EPS of $1.37 beats by $0.13 Revenue of $17.8B (6.64% Y/Y) beats by $369.29M
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2019) - The Yield Growth Corp. (CSE: BOSS) (OTC: BOSQF) (FSE: YG3) on a consolidated basis (the "Company", "us", "we"
has released financial and operational results for the third quarter ended August 31, 2019. These filings are available for review on the Company's SEDAR profile at www.sedar.com.
Financial Highlights
We have achieved record quarterly revenue in the third quarter of 2019. Revenue increased by 61% to $1.9 million in Q3 2019 compared to $1.2 million in Q2 2019, and increased by 355% compared to $0.4 million in Q3 2018.
Beginning in Q2 2018, we have achieved steady growth in revenues over the past 6 quarters to date, as set out in the chart below:
Figure 1: Last six-quarter revenue growth.
Net losses decreased by 55% to $1.9 million in Q3 2019 compared to $4.1 million in Q2 2019, and decreased by 50% compared to $3.7 million in Q3 2018.
We also made significant progress in building up our assets and are well positioned for future growth. Total assets increased by 149% to $6.5 million from $2.6 million at 2018 year-end. Net assets increased by 250% to $4.7 million from $1.3 million at 2018 year-end. Working capital increased by 91% to $3.4 million from $1.8 million at 2018 year-end.
We have no commercial debt, no short-term loans, no long-term loans and no convertible debentures.
Strategic Achievements:
Apart from record financial results, we also accomplished a few strategic milestones in business and operations including:
● We attained Oregon Liquor Control Commission (OLCC) final approval for 9 Wright & Well™ products, allowing our products to be sold through cannabis retailers in Oregon of the United States;
● We obtained Compliance Certificates for registration in the European Union for various Urban Juve™ products, allowing our products to be sold and distributed in the European market, in addition to Canada and US;
● We expanded market reach by entering into multiple license and distribution agreements for our products to be distributed worldwide, including Canada, US, Greece, Cyprus, Brazil and Colombia;
● We enhanced our marketing strategy to boost brand awareness, including our products being featured on Leafly, one of the largest cannabis websites in the world, and in high-profile magazines, British Vogue, Vanity Fair UK, and Elle Canada;
● We increased our market presence by having products available for sale on Shopper, an exclusive ecommerce marketplace by IPSY, beauty box subscription giant;
● We progressed with the development of our product line expansion through the completion of stability and preservative challenge tests for 9 new hemp products;
● We expanded our product distribution network and expect to deliver next quarter approximately $150,000 of Urban Juve™ products to a US company and $100,000 of Urban Juve™ products for distribution in Greece; and
● We have built up momentum in launching a few brands and commercializing our branded products as illustrated below:
https://seekingalpha.com/pr/17677484-yield-gr...evenue-1_9
FQ1: 10-22-19 Earnings Summary
10-Q Transcript Slides
EPS of $1.37 beats by $0.13 Revenue of $17.8B (6.64% Y/Y) beats by $369.29M
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2019) - The Yield Growth Corp. (CSE: BOSS) (OTC: BOSQF) (FSE: YG3) on a consolidated basis (the "Company", "us", "we"
has released financial and operational results for the third quarter ended August 31, 2019. These filings are available for review on the Company's SEDAR profile at www.sedar.com. Financial Highlights
We have achieved record quarterly revenue in the third quarter of 2019. Revenue increased by 61% to $1.9 million in Q3 2019 compared to $1.2 million in Q2 2019, and increased by 355% compared to $0.4 million in Q3 2018.
Beginning in Q2 2018, we have achieved steady growth in revenues over the past 6 quarters to date, as set out in the chart below:
Figure 1: Last six-quarter revenue growth.
Net losses decreased by 55% to $1.9 million in Q3 2019 compared to $4.1 million in Q2 2019, and decreased by 50% compared to $3.7 million in Q3 2018.
We also made significant progress in building up our assets and are well positioned for future growth. Total assets increased by 149% to $6.5 million from $2.6 million at 2018 year-end. Net assets increased by 250% to $4.7 million from $1.3 million at 2018 year-end. Working capital increased by 91% to $3.4 million from $1.8 million at 2018 year-end.
We have no commercial debt, no short-term loans, no long-term loans and no convertible debentures.
Strategic Achievements:
Apart from record financial results, we also accomplished a few strategic milestones in business and operations including:
● We attained Oregon Liquor Control Commission (OLCC) final approval for 9 Wright & Well™ products, allowing our products to be sold through cannabis retailers in Oregon of the United States;
● We obtained Compliance Certificates for registration in the European Union for various Urban Juve™ products, allowing our products to be sold and distributed in the European market, in addition to Canada and US;
● We expanded market reach by entering into multiple license and distribution agreements for our products to be distributed worldwide, including Canada, US, Greece, Cyprus, Brazil and Colombia;
● We enhanced our marketing strategy to boost brand awareness, including our products being featured on Leafly, one of the largest cannabis websites in the world, and in high-profile magazines, British Vogue, Vanity Fair UK, and Elle Canada;
● We increased our market presence by having products available for sale on Shopper, an exclusive ecommerce marketplace by IPSY, beauty box subscription giant;
● We progressed with the development of our product line expansion through the completion of stability and preservative challenge tests for 9 new hemp products;
● We expanded our product distribution network and expect to deliver next quarter approximately $150,000 of Urban Juve™ products to a US company and $100,000 of Urban Juve™ products for distribution in Greece; and
● We have built up momentum in launching a few brands and commercializing our branded products as illustrated below:
https://seekingalpha.com/pr/17677484-yield-gr...evenue-1_9
