Indiva Reports Record FY2021 Net Revenue Of $25.46M, Up 121.6%

Indiva Limited (OTCQX: NDVAF) (TSXV:NDVA) released its financial and operating results for the fourth quarter and fiscal year ended December 31, 2021.

Fiscal Year 2021 Performance

  • Record gross revenue for the year ended December 31, 2021 was CA$35.43 million ($27.79 million), versus CA$16.19 million for the year ended December 2020, representing a 118.9% year-over-year increase.

  • Record net revenue for the year ended 2021 was CA$32.47 million, versus CA$14.65 million for the year ended December 2020, representing a 121.6% year-over-year increase.

  • Gross margin before fair value adjustments and impairments improved to a record CA$9.95 million or 30.6% of net revenue versus CA$1.54 million or 10.5% of net revenue for the year ended 2020.

  • Adjusted EBITDA improved to a loss of CA$0.29 million versus a loss of CA$4.49 million last year.

  • Comprehensive net loss, excluding one-time expenses and non-cash charges, declined to CA$5.43 million in fiscal year 2021, versus a loss of CA$8.62 million in fiscal year 2020.

Quarterly Performance

  • Record gross revenue in Q4 2021 at CA$10.39 million, representing …

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More Indiva Reports Record FY2021 Net Revenue Of $25.46M, Up 121.6%