Harvest One (TSXV:HVT) reports positive Q4 2021 and year-end financials

• Harvest One Cannabis (HVT) has announced its fiscal Q4 financial and operating results for the three and twelve months ended June 30, 2021
• Gord Davey, CEO & President of Harvest One Cannabis sat down with Caroline Egan to highlight the company’s results
• The company reported total net revenue of $7.96 million in fiscal 2021 compared to $7.78 million in fiscal 2020, an 2.2 per cent increase
• Harvest One reported gross profit of $1.91 million, a 24 per cent increase from fiscal 2020
• Harvest One produces consumer packaged goods for the global cannabis market
• Harvest One Cannabis Inc. (HVT) is down 7.14 per cent, trading at C$0.065 per share at 1:45 pm ET

Harvest One Cannabis (HVT) has announced its fiscal Q4 financial and operating results for the three and twelve months ended June 30, 2021.

Highlights:

• Improved net revenue by 2.2 per cent growth year over year despite aggressive COVID travel restrictions
• Increased gross profit by 24 per cent
• Reduced selling, general and administrative expenses by 28 per cent year over year
• Improved EBITDA by 33 per cent year over year

Gord Davey, CEO & President of Harvest One Cannabis sat down with Caroline Egan to highlight the company’s results.

“Our year-end financial results clearly illustrate that the company is continuing to increase its revenues and significantly reduce operating and overhead expenditures to achieve profitability. This past year has been challenging to say the least. We have focussed on reducing our costs and overheads to improve our financial position. In parallel, we have been relentless in a very restricted COVID and travel environment in attaining new customers, distribution partners, products, and channels that are expected to increase our revenues and set the Company up for future sustainable success. Management’s efforts to uniquely position Harvest One as a hybrid cannabis-infused and non- infused CPG leader that develops and distributes innovative health, wellness, and selfcare products are resonating with consumers and generating improved profit margins. During our next fiscal year, we expect to continue to increase our revenues from recently negotiated distribution agreements and the introduction of new products in international markets.”

Harvest One is a global cannabis-infused and non-infused CPG leader that develops and distributes premium health, wellness and selfcare products.

Harvest One Cannabis Inc. (HVT) is down 7.14 per cent, trading at C$0.065 per share at 1:45 pm ET.