Wednesday, November 27, 2024
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
3Q Results. Revenue for the quarter totaled CAD$279,182, including the Company’s CAD$272,500 in deferred revenue. Excluding this, revenue was CAD$6,682, including TerraSante sales’ impact. We estimated revenue of CAD$15,000. Net loss was CAD$1.7 million, or a loss of $0.03/sh, compared to a loss of CAD$1.9 million last year, or $0.04/sh. We estimated a net loss of CAD$1.9 million or $0.04/sh.
Sales Revenue is Here. Notably, the quarter recognized product sales revenue for the TerraSante product for the first time. We expect TerraSante revenue to begin to impact revenue in a meaningful way in the latter half of 2025. As the Company receives more approvals from different states, we believe the opportunity to showcase TerraSante to farmers can expand, along with revenue.
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