Indiva Posts Q1 Results, Reports 690% Revenue Spike

Cannabis retailer Indiva Ltd. (TSXV: NDVA) (OTCQX: NDVAF) reported record revenue of CA$2.3 million (US$1.7 million) during the first quarter of 2020.

That’s an increase of 690% compared to the same period last year.

According to the company’s latest earnings report, the revenue increase is mainly due to new SKUs in the edibles and extracts sectors, and a decline in operating expenses.

Here’s a breakdown of what the first quarter finance report revealed:

  • Net revenue increased sequentially by 522% reaching CA$2 million
  • Negative gross margin of CA$217,696 versus a negative gross margin …

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