Latest news with #C21
Time of India
2 days ago
- Business
- Time of India
Content India 2026 set for March in Mumbai
Building on the momentum of its April 2025 summit, Content India has announced that its first three-day edition will be held from March 16 to 18, 2026, at Taj Lands End, Mumbai. Registrations for the event are now open. Designed as a high-powered platform for cross-border collaboration , Content India 2026 will bring together domestic and international players in the entertainment industry to unlock billions in untapped potential. The event will feature panel discussions, a marketplace for content, exclusive screenings, curated networking sessions, and insights from industry leaders. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program The conference aligns with findings from The Future of the Indian Entertainment Business report, which points to strong growth opportunities in content sales, acquisitions, co-productions, and creative services. Organisers say the goal is to position India as a global content hub by fostering partnerships that work both locally and internationally. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo The event comes against the backdrop of a landmark trade agreement between India and the UK, projected to boost bilateral trade by £25.5 billion annually by 2040. This development adds further weight to Content India 2026's mission to strengthen international ties in the creative industries. C21 Editor-in-Chief and Managing Director David Jenkinson said the April summit proved the potential for 'fresh partnerships' between Indian and international markets. 'Content India 2026 will focus on building partnerships that lead to formats which succeed locally and resonate globally,' he said. 'Now is the time.' Live Events Manoj Dobhal, CEO and Executive Director of Dish TV India , called the event a 'purpose-driven platform' that goes beyond entertainment to represent 'influence, identity, and economic strength.' He added: 'Our goal is to foster an inclusive, globally competitive ecosystem that empowers both seasoned professionals and the next generation of creators.' The event is anchored around 12 strategic goals, including developing hybrid content for global audiences, attracting international productions, showcasing India's AI and post-production capabilities, boosting format trade, and exploring venture capital funding for content creation.
Malaysian Reserve
31-07-2025
- Business
- Malaysian Reserve
C21 Investments Reports First Quarter Financial Results
+30% Q1 Revenue Growth Year-Over-Year Highlights Continued Outlier Growth VANCOUVER, BC, July 31, 2025 /CNW/ – C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ('C21' or the 'Company'), a vertically integrated cannabis company, today announced the filing of its interim financial statements and management discussion and analysis for its first quarter ending June 30, 2025, on SEDAR. The Company's financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles ('GAAP'). All currency is reported in U.S. dollars. First Quarter Highlights (April 1, 2025 to June 30, 2025): Revenue of $8.6 million – up 30% year-over-year and up 6% sequentially – driven by continued same store sales growth across all dispensaries; State of Nevada sales were down 14% year-over-year and flat from the sequential comparative periods1 Gross Margin of 35% – up 410 basis points year-over-year Income from Operations of $0.2 million – up $1 million from Q1 last year, driven by higher retail sales and lower SG&A costs Earnings (Loss) Per Share of ($0.01) – flat year-over-year, primarily impacted by Income Tax provisions; Net Income Before Tax of $0.1 million Adjusted EBITDA2 of $1.1 million – up 244% from Q1 last year Free Cash Flow2, before working capital changes and taxes, of $0.9 million; $0.8 million Income Tax paid in Q1 Retail Transaction Growth up 45% from the Q1 last year and 5% sequentially Purchased 184,500 common shares for cancellation pursuant to the NCIB _______________________________ 1 State of Nevada cannabis sales: 2 Refer to 'Non-GAAP Measures' disclosure at the end of this news release for a description and calculation of these measures Q1 Management and Operational Commentary: CEO and President, Sonny Newman: '30% revenue growth in Q1 underscores the soundness of our retail strategy and ability to deliver exceptional results in a challenging market. We are pleased with yet another quarter of robust same-store sales growth across all of our dispensaries. Our flagship Sparks store, celebrating its 10th anniversary as Nevada's first licensed dispensary, reported impressive results with a 5% increase in customer transactions quarter-over-quarter. Our South Reno location continues to outperform, achieving 120% same-store sales growth over its first full year of operations. Despite industry-wide price compression and the decline in overall Nevada state sales, we have delivered sequential revenue growth and another quarter of positive free cash flow. These results reflect the strength of our business model, the capabilities of our team, and focus on operational efficiency. Looking ahead, we remain committed to our long-term goal of sustainable growth.' Q1 revenue of $8.6 million was up 30% over the previous year, despite a 14% decline in Nevada sales over the comparative period1. Revenue was up 6% from the previous quarter. Increases were driven by same store sales growth in each of Silver State's three dispensaries as well as higher wholesale volume. Gross Margin of 35% in the first quarter was up 410 basis points year-over-year but down sequentially, impacted by seasonality around 4/20 discounts and an increase in wholesale activity. C21 reported Income from Operations of $0.2 million in the first quarter, up $1.0 million from the previous Q1 and down sequentially, primarily due to lower gross margin. SG&A costs were down 3% year-over-year and relatively flat sequentially despite the material increase in revenue. The Company reported a Net Loss of $0.8 million in the first quarter, or ($0.01) per share, versus a Net Loss of $1.4 million in the previous first quarter. Q1's Net Loss was primarily due to Income Tax provisions. The Company generated $0.1 million Net Income Before Tax for Q1. Q1 Adjusted EBITDA2 was $1.1 million, up 244% from the previous Q1 but down sequentially. The increase in Adjusted EBITDA year-over-year was driven by the 30% increase in retail sales, improved gross margin, and lower SG&A costs. Q1 Free Cash Flow2 before working capital changes was $0.9 million, up $1.0 million from the previous Q1 and down sequentially. Cash at the end of Q1 was flat from Q4 notwithstanding $0.8 million in Income Tax paid, a $0.3 million debenture principal repayment, and shares purchased for cancellation in the quarter. Based on legal interpretations and opinions that challenge its tax liability under Section 280E Internal Revenue Code of 1986, the Company has taken the position that it does not owe taxes attributable to the application of this Section of the Code. The Company plans on refiling amended U.S. federal income tax returns for the years ended January 31, 2022, January 31, 2023, January 31, 2024, and the two months ended March 31, 2024. Management exercises significant judgment when assessing the probability of successfully sustaining the Company's tax filing positions, and in determining whether a contingent tax liability should be recorded and, if so, estimating the amount. See disclosure of Risk Factors in the MD&A. Non-GAAP Measures: C21 reports its financial results in accordance with GAAP and uses a number of financial measures when assessing its results and measuring overall performance. Some of these financial measures and ratios are not calculated in accordance with GAAP. The Company refers to certain non-GAAP financial measures such as 'Free Cash Flow', 'Adjusted EBITDA' and 'same store sales'. These measures do not have any standardized meanings prescribed by GAAP and may not be comparable to similar measures presented by other issuers. The Company considers these measures to be an important indicator of the financial strength and performance of its business. The Company believes the adjusted results presented provide relevant and useful information for investors because they clarify the Company's actual operating performance, make it easier to compare the Company's results with those of other companies and allow investors to review performance in the same way as the management of the Company. Since these measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, the Company's reported results as indicators of the Company's performance, and they may not be comparable to similarly named measures from other companies. The tables below provide reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. 'Free Cash Flow' is defined as Cash Provided by Operating Activities from Continuing Operations adding back income tax expense and before changes in working capital, minus capital expenditures. Management believes that Free Cash Flow, which measures our ability to generate cash from our continuing business operations, is an important financial measure for use in evaluating the Company's financial performance. Free Cash Flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. Q1 Free Cash Flow: Q1 Q4 Q3 Q2 Q1 Quarter Ended (except as noted) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Cash Provided by Operating Activities before taxes and changes in working capital (continuing operations) $ 942,348 $ 1,582,088 $ 1,726,751 $ 1,045,505 $ 77,815 Purchase of Property and Equipment (37,329) (31,434) (144,908) (60,731) (169,660) Free Cash Flow $ 905,019 $ 1,550,654 $ 1,581,843 $ 984,774 $ (91,845) 'Adjusted EBITDA' is defined as EBITDA (earnings before depreciation and amortization, depreciation and interest in cost of sales, income taxes, and interest) less accretion, loss from discontinued operations, one-time transaction costs and all other non-cash items. The Company has presented 'Adjusted EBITDA' because its management believes it is a useful measure for investors when assessing and considering the Company's continuing operations and prospects for the future. Furthermore, 'Adjusted EBITDA' is a commonly used measurement in the financial community when evaluating the market value of similar companies. Q1 Adjusted EBITDA: Q1 Q4 Q3 Q2 Q1 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Net Income (Loss) $ (758,820) $ (1,581,297) $ (130,941) $ (845,132) $ (1,412,172) Interest & accretion 180,598 196,905 231,358 238,531 136,752 Provision for Income Taxes 825,500 2,232,750 722,800 828,400 367,700 Depreciation and Amortization 445,616 445,042 445,992 435,456 379,522 Depreciation and Interest in COGS 203,092 203,091 – 406,184 203,091 EBITDA $ 895,986 $ 1,496,491 $ 1,269,209 $ 1,063,439 $ (325,107) Change in FV of derivative liability – (52,257) – – – Share based compensation 93,945 136,757 143,493 147,091 422,218 Loss (gain) from discontinued operations 1,861 51,712 49,663 85,714 25,724 One-time special project costs 118,770 70,000 – – 117,543 Production curtailment, non-cash inventory adjustments – – – – 28,700 Other gain (loss) (41,726) (10,602) 105,234 (927) 41,740 Adjusted EBITDA $1,068,836 $ 1,692,102 $ 1,567,599 $ 1,295,317 $ 310,818 Q1 Balance Sheet Summary: (US$) June 30, 2025 March 31, 2025 Assets Cash 2,655,208 2,625,461 Inventory 4,163,477 4,051,425 Other current, assets held for sale 790,078 827,229 Current Assets 7,608,763 7,504,115 Note receivable 778,966 802,766 Fixed Assets/Goodwill/Intangibles 48,007,884 48,692,868 Total Assets 56,395,613 56,999,749 Liabilities Accounts payable 2,541,590 2,148,153 Convertible Debentures (current portion) 1,104,829 977,817 Income taxes payable 2,142,540 2,833,991 Other notes, current lease, liabilities held for sale 2,039,487 1,997,082 Current Liabilities 7,828,446 7,957,043 Convertible Debentures 442,402 710,367 Lease liabilities 9,621,827 9,771,124 Uncertain tax position 10,539,748 9,822,797 Derivative liability, Deferred tax 64,136 62,641 Total Liabilities 28,496,559 28,323,972 Shareholders' Equity 27,899,054 28,675,777 Total Liabilities and Shareholders' Equity 56,395,613 56,999,749 Q1 Summary Income Statement: Q1 Q4 Q3 Q2 Q1 (US$) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Revenue 8,553,373 8,105,512 7,907,812 7,508,547 6,596,009 Cost of Sales 5,569,382 4,477,048 4,272,868 4,243,714 4,565,310 Gross Profit 2,983,991 3,628,464 3,634,944 3,264,833 2,030,699 Gross Margin% 35 % 45 % 46 % 43 % 31 % Total Expenses 2,776,578 2,791,252 2,656,830 2,958,247 2,870,955 Income from Operations 207,413 837,212 978,114 306,586 (840,256) Income Tax Expense (825,500) (2,232,750) (722,800) (828,400) (367,700) Net Income (Loss) (755,098) (1,581,297) (130,941) (845,132) (1,412,172) Earnings (Loss) Per Share (0.01) (0.01) (0.00) (0.01) (0.01) About C21 Investments Inc.C21 Investments Inc. is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multi-market branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, including legacy Oregon brands Phantom Farms, Hood Oil and Eco Firma Farms. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 can be found at and Cautionary Note Regarding Forward-Looking Information and Statements: This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities legislation and may constitute 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'Forward-Looking Statements'). Forward-Looking Statements in this news release include but are not limited to the Company's focus on actively pursuing additional accretive opportunities while maintaining its relentless focus on driving shareholder value and the Company's intention to refile amended U.S. federal income tax returns for the years ended January 31, 2022, January 31, 2023, January 31, 2024, and the two months ended March 31, 2024 in connection with the Company's position that it does not owe taxes attributable to the application of Section 280E of the Internal Revenue Code of 1986. Such Forward-Looking Statements represent the Company's beliefs and expectations regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Forward-Looking Statements are based on assumptions, estimates, analyses and opinions of management of the Company at the time they were provided or made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including: achieving the anticipated results of the Company's strategic plans; and general economic, financial market, regulatory and political conditions in which the Company operates. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the Forward-Looking Statements in this news release. Such factors include, without limitation: risks and uncertainties arising from: the inability to effectively manage growth; inputs, suppliers and skilled labour being unavailable or available only at uneconomic costs; the adequacy of the Company's capital resources and liquidity, including but not limited to, availability of sufficient cash flow to execute the Company's business plan (either within the expected timeframe or at all); changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws generally and adverse future legislative and regulatory developments involving medical and recreational marijuana; the risks of operating in the marijuana industry in the United States, risks associated with the Company's position that it does not owe taxes attributable to the application of Section 280E of the Internal Revenue Code of 1986 and those other risk factors discussed in the Company's 20F filing with the U.S. Securities and Exchange Commission, and the Company's latest annual information form and management's discussion and analysis as filed under the Company's profile on SEDAR+. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the Forward-Looking Statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such Forward-Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Should assumptions underlying the Forward-Looking Statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Forward-Looking Statements contained in this news release are made as of the date of this news release, and the Company does not undertake to update any Forward-Looking Statements that are contained or referenced herein, except in accordance with applicable securities laws. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cision Canada
31-07-2025
- Business
- Cision Canada
C21 Investments Reports First Quarter Financial Results
VANCOUVER, BC, July 31, 2025 /CNW/ - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) (" C21" or the " Company"), a vertically integrated cannabis company, today announced the filing of its interim financial statements and management discussion and analysis for its first quarter ending June 30, 2025, on SEDAR. The Company's financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (" GAAP"). All currency is reported in U.S. dollars. First Quarter Highlights (April 1, 2025 to June 30, 2025): Revenue of $8.6 million - up 30% year-over-year and up 6% sequentially – driven by continued same store sales growth across all dispensaries; State of Nevada sales were down 14% year-over-year and flat from the sequential comparative periods 1 Gross Margin of 35% - up 410 basis points year-over-year Income from Operations of $0.2 million – up $1 million from Q1 last year, driven by higher retail sales and lower SG&A costs Earnings (Loss) Per Share of ($0.01) – flat year-over-year, primarily impacted by Income Tax provisions; Net Income Before Tax of $0.1 million Adjusted EBITDA 2 of $1.1 million - up 244% from Q1 last year Free Cash Flow 2, before working capital changes and taxes, of $0.9 million; $0.8 million Income Tax paid in Q1 Retail Transaction Growth up 45% from the Q1 last year and 5% sequentially Purchased 184,500 common shares for cancellation pursuant to the NCIB Q1 Management and Operational Commentary: CEO and President, Sonny Newman: "30% revenue growth in Q1 underscores the soundness of our retail strategy and ability to deliver exceptional results in a challenging market. We are pleased with yet another quarter of robust same-store sales growth across all of our dispensaries. Our flagship Sparks store, celebrating its 10th anniversary as Nevada's first licensed dispensary, reported impressive results with a 5% increase in customer transactions quarter-over-quarter. Our South Reno location continues to outperform, achieving 120% same-store sales growth over its first full year of operations. Despite industry-wide price compression and the decline in overall Nevada state sales, we have delivered sequential revenue growth and another quarter of positive free cash flow. These results reflect the strength of our business model, the capabilities of our team, and focus on operational efficiency. Looking ahead, we remain committed to our long-term goal of sustainable growth." Q1 revenue of $8.6 million was up 30% over the previous year, despite a 14% decline in Nevada sales over the comparative period 1. Revenue was up 6% from the previous quarter. Increases were driven by same store sales growth in each of Silver State's three dispensaries as well as higher wholesale volume. Gross Margin of 35% in the first quarter was up 410 basis points year-over-year but down sequentially, impacted by seasonality around 4/20 discounts and an increase in wholesale activity. C21 reported Income from Operations of $0.2 million in the first quarter, up $1.0 million from the previous Q1 and down sequentially, primarily due to lower gross margin. SG&A costs were down 3% year-over-year and relatively flat sequentially despite the material increase in revenue. The Company reported a Net Loss of $0.8 million in the first quarter, or ($0.01) per share, versus a Net Loss of $1.4 million in the previous first quarter. Q1's Net Loss was primarily due to Income Tax provisions. The Company generated $0.1 million Net Income Before Tax for Q1. Q1 Adjusted EBITDA 2 was $1.1 million, up 244% from the previous Q1 but down sequentially. The increase in Adjusted EBITDA year-over-year was driven by the 30% increase in retail sales, improved gross margin, and lower SG&A costs. Q1 Free Cash Flow 2 before working capital changes was $0.9 million, up $1.0 million from the previous Q1 and down sequentially. Cash at the end of Q1 was flat from Q4 notwithstanding $0.8 million in Income Tax paid, a $0.3 million debenture principal repayment, and shares purchased for cancellation in the quarter. Based on legal interpretations and opinions that challenge its tax liability under Section 280E Internal Revenue Code of 1986, the Company has taken the position that it does not owe taxes attributable to the application of this Section of the Code. The Company plans on refiling amended U.S. federal income tax returns for the years ended January 31, 2022, January 31, 2023, January 31, 2024, and the two months ended March 31, 2024. Management exercises significant judgment when assessing the probability of successfully sustaining the Company's tax filing positions, and in determining whether a contingent tax liability should be recorded and, if so, estimating the amount. See disclosure of Risk Factors in the MD&A. Non-GAAP Measures: C21 reports its financial results in accordance with GAAP and uses a number of financial measures when assessing its results and measuring overall performance. Some of these financial measures and ratios are not calculated in accordance with GAAP. The Company refers to certain non-GAAP financial measures such as "Free Cash Flow", "Adjusted EBITDA" and "same store sales". These measures do not have any standardized meanings prescribed by GAAP and may not be comparable to similar measures presented by other issuers. The Company considers these measures to be an important indicator of the financial strength and performance of its business. The Company believes the adjusted results presented provide relevant and useful information for investors because they clarify the Company's actual operating performance, make it easier to compare the Company's results with those of other companies and allow investors to review performance in the same way as the management of the Company. Since these measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, the Company's reported results as indicators of the Company's performance, and they may not be comparable to similarly named measures from other companies. The tables below provide reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. "Free Cash Flow" is defined as Cash Provided by Operating Activities from Continuing Operations adding back income tax expense and before changes in working capital, minus capital expenditures. Management believes that Free Cash Flow, which measures our ability to generate cash from our continuing business operations, is an important financial measure for use in evaluating the Company's financial performance. Free Cash Flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. Q1 Free Cash Flow: " Adjusted EBITDA" is defined as EBITDA (earnings before depreciation and amortization, depreciation and interest in cost of sales, income taxes, and interest) less accretion, loss from discontinued operations, one-time transaction costs and all other non-cash items. The Company has presented "Adjusted EBITDA" because its management believes it is a useful measure for investors when assessing and considering the Company's continuing operations and prospects for the future. Furthermore, "Adjusted EBITDA" is a commonly used measurement in the financial community when evaluating the market value of similar companies. Q1 Adjusted EBITDA: Q1 Balance Sheet Summary: Q1 Summary Income Statement: Q1 Q4 Q3 Q2 Q1 (US$) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Revenue 8,553,373 8,105,512 7,907,812 7,508,547 6,596,009 Cost of Sales 5,569,382 4,477,048 4,272,868 4,243,714 4,565,310 Gross Profit 2,983,991 3,628,464 3,634,944 3,264,833 2,030,699 Gross Margin% 35 % 45 % 46 % 43 % 31 % Total Expenses 2,776,578 2,791,252 2,656,830 2,958,247 2,870,955 Income from Operations 207,413 837,212 978,114 306,586 (840,256) Income Tax Expense (825,500) (2,232,750) (722,800) (828,400) (367,700) Net Income (Loss) (755,098) (1,581,297) (130,941) (845,132) (1,412,172) Earnings (Loss) Per Share (0.01) (0.01) (0.00) (0.01) (0.01) About C21 Investments Inc. C21 Investments Inc. is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multi-market branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, including legacy Oregon brands Phantom Farms, Hood Oil and Eco Firma Farms. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 can be found at and Cautionary Note Regarding Forward-Looking Information and Statements: This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, " Forward-Looking Statements"). Forward-Looking Statements in this news release include but are not limited to the Company's focus on actively pursuing additional accretive opportunities while maintaining its relentless focus on driving shareholder value and the Company's intention to refile amended U.S. federal income tax returns for the years ended January 31, 2022, January 31, 2023, January 31, 2024, and the two months ended March 31, 2024 in connection with the Company's position that it does not owe taxes attributable to the application of Section 280E of the Internal Revenue Code of 1986. Such Forward-Looking Statements represent the Company's beliefs and expectations regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Forward-Looking Statements are based on assumptions, estimates, analyses and opinions of management of the Company at the time they were provided or made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including: achieving the anticipated results of the Company's strategic plans; and general economic, financial market, regulatory and political conditions in which the Company operates. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the Forward-Looking Statements in this news release. Such factors include, without limitation: risks and uncertainties arising from: the inability to effectively manage growth; inputs, suppliers and skilled labour being unavailable or available only at uneconomic costs; the adequacy of the Company's capital resources and liquidity, including but not limited to, availability of sufficient cash flow to execute the Company's business plan (either within the expected timeframe or at all); changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws generally and adverse future legislative and regulatory developments involving medical and recreational marijuana; the risks of operating in the marijuana industry in the United States, risks associated with the Company's position that it does not owe taxes attributable to the application of Section 280E of the Internal Revenue Code of 1986 and those other risk factors discussed in the Company's 20F filing with the U.S. Securities and Exchange Commission, and the Company's latest annual information form and management's discussion and analysis as filed under the Company's profile on SEDAR+. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the Forward-Looking Statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such Forward-Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Should assumptions underlying the Forward-Looking Statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Forward-Looking Statements contained in this news release are made as of the date of this news release, and the Company does not undertake to update any Forward-Looking Statements that are contained or referenced herein, except in accordance with applicable securities laws. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE C21 Investments Inc.
Cision Canada
22-05-2025
- Business
- Cision Canada
C21 Investments Announces Q4 Earnings Date and Provides Operational Update
VANCOUVER, BC, May 22, 2025 /CNW/ - C21 Investments Inc. (CSE: CXXI and OTCQX: CXXIF) (" C21" or the " Company"), a vertically integrated cannabis company, today announced its expected date for reporting its audited fiscal year end financial results for the period ended March 31, 2025. The Company is also taking the opportunity to provide an operational update for the period. All currency is reported in U.S. dollars. The Company recently changed its fiscal reporting period to a March 31 st year-end and will not have traditional year-over-year comparable reporting periods for its fourth quarter. The Company is pleased to share an update on its existing operations for its fourth quarter, ended March 31, 2025. C21 anticipates releasing audited results by June 24, 2025. For Q4 (January–March 2025), C21 reported revenue of $8.1 million, a 3% increase from $7.9 million in Q3 (October–December 2024). Compared to the previous Q4 (ended January 31, 2024), revenue grew by 24%. Gross margins for Q4 are projected at approximately 45%. Over the fiscal year (Q4 vs. Q1), C21 achieved a 23% revenue increase (see table below). The company sustained robust retail sales growth, with a 26% increase over the same period. All Silver State Relief dispensaries recorded sequential same-store sales growth in Q4. Notably, the South Reno store, opened in July 2024, has achieved over 100% same-store sales growth, rising from $273,000 in its first full operational month, July 2024, to $580,780 in March 2025. Customer transactions grew consistently across all dispensaries each quarter, with a 38% increase in retail transactions over the fiscal year (Q4 vs. Q1). CEO and President, Sonny Newman, stated, "We look forward to sharing our fourth quarter and year-end results in June, which will showcase sequential same store sales growth across each of our Silver State Relief dispensaries despite seasonal and industry challenges. Our performance underscores the strength of our retail brand and the exceptional dedication of our team." Non-GAAP Measures: C21 reports its financial results in accordance with GAAP and uses a number of financial measures when assessing its results and measuring overall performance. Some of these financial measures and ratios are not calculated in accordance with GAAP. The Company refers to certain Non-GAAP financial measures such as "Free Cash Flow", "Adjusted EBITDA" and "same store sales". These measures do not have any standardized meanings prescribed by GAAP and may not be comparable to similar measures presented by other issuers. The Company considers these measures to be an important indicator of the financial strength and performance of its business. The Company believes the adjusted results presented provide relevant and useful information for investors because they clarify the Company's actual operating performance, make it easier to compare the Company's results with those of other companies and allow investors to review performance in the same way as the management of the Company. Since these measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, the Company's reported results as indicators of the Company's performance, and they may not be comparable to similarly named measures from other companies. The tables below provide reconciliations of Non-GAAP financial measures to the most directly comparable GAAP measures. "Free Cash Flow" is defined as Cash Provided by Operating Activities from Continuing Operations adding back income tax expense and before changes in working capital, minus capital expenditures. Management believes that Free Cash Flow, which measures our ability to generate cash from our continuing business operations, is an important financial measure for use in evaluating the Company's financial performance. Free Cash Flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. " Adjusted EBITDA" is defined as EBITDA (earnings before depreciation and amortization, depreciation and interest in cost of sales, income taxes, and interest) less accretion, loss from discontinued operations, one-time transaction costs and all other non-cash items. The Company has presented "Adjusted EBITDA" because its management believes it is a useful measure for investors when assessing and considering the Company's continuing operations and prospects for the future. Furthermore, "Adjusted EBITDA" is a commonly used measurement in the financial community when evaluating the market value of similar companies. About C21 Investments Inc. C21 Investments Inc. is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multi-market branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, including legacy Oregon brands Phantom Farms, Hood Oil and Eco Firma Farms. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 can be found at and Cautionary Note Regarding Forward-Looking Information and Statements: This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "Forward-Looking Statements"). Forward-Looking Statements in this news release include but are not limited to the Company's focus on ramping its new store and continuing to pursue additional opportunities in the market; and improving margins. Such Forward-Looking Statements represent the Company's beliefs and expectations regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Forward-Looking Statements are based on assumptions, estimates, analyses and opinions of management of the Company at the time they were provided or made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including: achieving the anticipated results of the Company's strategic plans; and general economic, financial market, regulatory and political conditions in which the Company operates. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the Forward-Looking Statements in this news release. Such factors include, without limitation: risks and uncertainties arising from: the inability to effectively manage growth; inputs, suppliers and skilled labour being unavailable or available only at uneconomic costs; the adequacy of the Company's capital resources and liquidity, including but not limited to, availability of sufficient cash flow to execute the Company's business plan (either within the expected timeframe or at all); changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws generally and adverse future legislative and regulatory developments involving medical and recreational marijuana; the risks of operating in the marijuana industry in the United States, and those other risk factors discussed in the Company's 20F filing with the U.S. Securities and Exchange Commission and Annual Information Form filing on SEDAR+. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the Forward-Looking Statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such Forward-Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Should assumptions underlying the Forward-Looking Statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Forward-Looking Statements contained in this news release are made as of the date of this news release, and the Company does not undertake to update any Forward-Looking Statements that are contained or referenced herein, except in accordance with applicable securities laws. SOURCE C21 Investments Inc.
Yahoo
22-05-2025
- Business
- Yahoo
C21 Investments Announces Q4 Earnings Date and Provides Operational Update
Sequential Same Store Sales Growth Across All Dispensaries Continues Strong Outlier Performance VANCOUVER, BC, May 22, 2025 /CNW/ - C21 Investments Inc. (CSE: CXXI and OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, today announced its expected date for reporting its audited fiscal year end financial results for the period ended March 31, 2025. The Company is also taking the opportunity to provide an operational update for the period. All currency is reported in U.S. dollars. The Company recently changed its fiscal reporting period to a March 31st year-end and will not have traditional year-over-year comparable reporting periods for its fourth quarter. The Company is pleased to share an update on its existing operations for its fourth quarter, ended March 31, 2025. C21 anticipates releasing audited results by June 24, 2025. For Q4 (January–March 2025), C21 reported revenue of $8.1 million, a 3% increase from $7.9 million in Q3 (October–December 2024). Compared to the previous Q4 (ended January 31, 2024), revenue grew by 24%. Gross margins for Q4 are projected at approximately 45%. Over the fiscal year (Q4 vs. Q1), C21 achieved a 23% revenue increase (see table below). The company sustained robust retail sales growth, with a 26% increase over the same period. All Silver State Relief dispensaries recorded sequential same-store sales growth in Q4. Notably, the South Reno store, opened in July 2024, has achieved over 100% same-store sales growth, rising from $273,000 in its first full operational month, July 2024, to $580,780 in March 2025. Customer transactions grew consistently across all dispensaries each quarter, with a 38% increase in retail transactions over the fiscal year (Q4 vs. Q1). CEO and President, Sonny Newman, stated, "We look forward to sharing our fourth quarter and year-end results in June, which will showcase sequential same store sales growth across each of our Silver State Relief dispensaries despite seasonal and industry challenges. Our performance underscores the strength of our retail brand and the exceptional dedication of our team." In USD Preliminary Q4 Q3 Q2 Q1 2-month StubMar 31, 2025 Dec 31, 2024 Sept 30, 2024 June 30, 2024 Mar 31, 2024 Revenue $ 8,105,512 $ 7,907,812 $ 7,508,547 $ 6,596,009 $ 4,464,950 Gross Margin 45 % 46 % 43 % 31 % 40 % Income (Loss)from Operations $ 837,212 $ 978,114 $ 306,586 $ (840,256) $ 289,906 Adjusted EBITDA[1] $ 1,692,102 $ 1,567,599 $1,295,317 $ 310,818 $ 632,526 Free Cash Flow1 $ 1,602,912 $ 1,581,843 $ 984,774 $ (91,845) $ 399,523 Customer Transactions 174,611 168,457 154,911 126,449 80,712 Non-GAAP Measures: C21 reports its financial results in accordance with GAAP and uses a number of financial measures when assessing its results and measuring overall performance. Some of these financial measures and ratios are not calculated in accordance with GAAP. The Company refers to certain Non-GAAP financial measures such as "Free Cash Flow", "Adjusted EBITDA" and "same store sales". These measures do not have any standardized meanings prescribed by GAAP and may not be comparable to similar measures presented by other issuers. The Company considers these measures to be an important indicator of the financial strength and performance of its business. The Company believes the adjusted results presented provide relevant and useful information for investors because they clarify the Company's actual operating performance, make it easier to compare the Company's results with those of other companies and allow investors to review performance in the same way as the management of the Company. Since these measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, the Company's reported results as indicators of the Company's performance, and they may not be comparable to similarly named measures from other companies. The tables below provide reconciliations of Non-GAAP financial measures to the most directly comparable GAAP measures. "Free Cash Flow" is defined as Cash Provided by Operating Activities from Continuing Operations adding back income tax expense and before changes in working capital, minus capital expenditures. Management believes that Free Cash Flow, which measures our ability to generate cash from our continuing business operations, is an important financial measure for use in evaluating the Company's financial performance. Free Cash Flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. "Adjusted EBITDA" is defined as EBITDA (earnings before depreciation and amortization, depreciation and interest in cost of sales, income taxes, and interest) less accretion, loss from discontinued operations, one-time transaction costs and all other non-cash items. The Company has presented "Adjusted EBITDA" because its management believes it is a useful measure for investors when assessing and considering the Company's continuing operations and prospects for the future. Furthermore, "Adjusted EBITDA" is a commonly used measurement in the financial community when evaluating the market value of similar companies. About C21 Investments Inc.C21 Investments Inc. is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multi-market branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, including legacy Oregon brands Phantom Farms, Hood Oil and Eco Firma Farms. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 can be found at and Cautionary Note Regarding Forward-Looking Information and Statements: This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "Forward-Looking Statements"). Forward-Looking Statements in this news release include but are not limited to the Company's focus on ramping its new store and continuing to pursue additional opportunities in the market; and improving margins. Such Forward-Looking Statements represent the Company's beliefs and expectations regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Forward-Looking Statements are based on assumptions, estimates, analyses and opinions of management of the Company at the time they were provided or made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including: achieving the anticipated results of the Company's strategic plans; and general economic, financial market, regulatory and political conditions in which the Company operates. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the Forward-Looking Statements in this news release. Such factors include, without limitation: risks and uncertainties arising from: the inability to effectively manage growth; inputs, suppliers and skilled labour being unavailable or available only at uneconomic costs; the adequacy of the Company's capital resources and liquidity, including but not limited to, availability of sufficient cash flow to execute the Company's business plan (either within the expected timeframe or at all); changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws generally and adverse future legislative and regulatory developments involving medical and recreational marijuana; the risks of operating in the marijuana industry in the United States, and those other risk factors discussed in the Company's 20F filing with the U.S. Securities and Exchange Commission and Annual Information Form filing on SEDAR+. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the Forward-Looking Statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such Forward-Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Should assumptions underlying the Forward-Looking Statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Forward-Looking Statements contained in this news release are made as of the date of this news release, and the Company does not undertake to update any Forward-Looking Statements that are contained or referenced herein, except in accordance with applicable securities laws. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. 1 Refer to "Non-GAAP Measures" disclosure at the end of this news release for a description and calculation of these measures SOURCE C21 Investments Inc. View original content to download multimedia:
