Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) announced its financial and operating results Thursday for the second quarter of fiscal 2021, revealing record quarterly revenues from continuing operations of $6.9 million, up by 26% from $5.5 million in the same quarter of 2020.
Fiscal Second Quarter Financial Results
- Gross profit grew 131% year-over-year to $3.1 million. Gross margin almost doubled from 23% in Q2 2020 to 45% in Q2 2021.
- Adjusted EBITDA was approximately $250,000 for Q2 2021, compared with a loss of $750,000 for Q2 2020, continuing the positive trend since fourth quarter 2020. This move to profitability was primarily driven by continued cost controls, increased contribution from Homegrown and increased vertical product contribution in both Chalice and Homegrown.
Second Quarter Highlights:
- On …