Australis Reports Q1 Financial Year (FY) 2022 Results

CANNANNEW REPORT

Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (“AUSA” or the “Company”), doing business as AUDACIOUS, today announced that the Company has filed its unaudited financial statements and management discussion and analysis for the first quarter of fiscal year 2022, the period ending June 30, 2021. Terry Booth, CEO, commented, “Continuing the strong performance recorded in Q4 of fiscal 2021, AUSA has transformed itself into a rapidly growing MSO in the U.S. cannabis space. With revenues soaring by over 2,600% over last year, improving gross margin and adjusted EBITDA, we are showing the power of our execution on a unique strategy. This is just the beginning. We are exceptionally well positioned with operations in new jurisdictions coming online, new  brands launched, and a number of very interesting transactions and partnerships progressing well towards signing. Going forward, shareholders can expect AUDACIOUS to continue transforming the business and execute towards becoming a unique and uniquely successful MSO.” Financial Highlights Driven by a full quarter of ALPS revenues and Green Therapeutics (“GT”)-related management fee income, AUSA revenues reached $1.7 million, its best quarter ever and far surpassing revenues in any complete fiscal year since inception. Revenues soared by 2,652% over the prior year Q1, and by 266% sequentially compares to the prior quarter, Q4 2021. ALPS, acquired on March 9, 2021 saw revenues grow by 90% sequentially, on a pro forma basis comparing Q1 2022 to Q4 2021. Gross margin came in at a strong 62% and climbed to $1.1 million, a 1,814% increase over Q1 last year, led by strong consulting revenues from ALPS along with management fee income related to GT. Margins from the cannabis business will kick in once the pending license transfer from GT is approved in Nevada to complete the balance of the GT acquisition. The Company recorded a net loss of $(9.5) million or $(0.04) per share, driven primarily…

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Source : Australis Reports Q1 Financial Year (FY) 2022 Results

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