MediPharm Labs Reports Strong, Profitable 2019 Third Quarter While Investing for Future Global Advantage

Revenue $43.4 million, adjusted EBITDA $10.1 million BARRIE, Ontario, Nov. 12, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven cannabis extraction, distillation and purification, today announced its financial results for the three and nine months ended September 30, 2019. During the period the Company posted strong growth in revenue, adjusted EBITDA and net income even while making significant investments in capacity and capability that will benefit future performance and support global growth opportunities. KEY Q3 2019 FINANCIAL HIGHLIGHTS(1)(2) Revenue was $43.4 million, a 38% increase over Q2 2019, as the Company expanded its leadership of the Canadian cannabis extraction industry Gross Profit was $14.8 million, a 30% increase over Q2 2019 and Gross Margin was 34% compared to 36% in Q2 2019 despite lower market-selling prices and increased GMP audit certification costs Adjusted EBITDA was $10.1 million, 31% higher than Q2 2019 and Adjusted EBITDA margin was 23% compared to 24% in Q2 2019 even as the Company made targeted audit-related expenditures to grow its EU-GMP-standard-built production facilities and expand its product capabilities Net income before tax was $5.4 million compared to net income…

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