TILT Holdings Reports Record Quarterly Revenue Of $53.4M, Up 37% YoY; Revises Adjusted EBITDA Guidance

Marijuana company TILT Holdings Inc. (NEO: TILT) (OTCQX: TLLTF) released its financial and operating results late Monday for the three months ended September 30, 2021, reporting revenue of $53.4 million, up by 37% from the same quarter of 2020.

 Q3 Financial Summary (vs. Q3 2020, where applicable)

  • Cannabis revenue increased 19% to $11.2 million and inhalation and accessory revenue increased 42% to $42.1 million.
  • Gross profit before fair value adjustments increased to $12.7 million or 23.7% of revenue, compared to $12.2 million or 31.3% of revenue. Gross margins were impacted by higher freight costs for the company’s inhalation and accessory business, as well as ramping up cultivation in the company’s cannabis business.
  • Total operating expense was $16.3 million compared to $14.5 million.
  • Adjusted EBITDA was $5.0 million compared to $5.1 million. As a percentage of revenue, adjusted EBITDA was 9.3% compared to 13.1%.
  • On …

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