Columbia Care Reports Preliminary Full Year 2021 Results; Announces Revised Date for Fourth Quarter and Full Year 2021 Earnings Call

Columbia Care Reports Preliminary Full Year 2021 Results; Announces Revised Date for Fourth Quarter and Full Year 2021 Earnings Call
CANNANNEW REPORT

Company Now Reporting in U.S. GAAP; Also Presenting Results This Quarter with Reference to 2021 IFRS Guidance Full Year 2021 Combined Revenue of $474 Million and Combined Adjusted EBITDA of $85 Million; Both Company Records and In-Line with Previously Communicated IFRS Guidance Company Reports Preliminary U.S. GAAP Results Including Record Revenue of $460 Million and Record Adjusted EBITDA of $58 Million (Non-GAAP Measure) NEW YORK–(BUSINESS WIRE)–Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) today announced preliminary results for the full year ended December 31, 2021. At this time, the Company is working to complete its first U.S. GAAP audit and will report its financial results for the fourth quarter and full year ended December 31, 2021 before U.S. financial markets open on Thursday, March 24, 2022. All financial information presented in this release is unaudited, in U.S. GAAP and in thousands of U.S. dollars, unless otherwise noted, and comparisons to prior year are made on an as-converted basis under U.S. GAAP, unless otherwise noted. Full Year 2021 U.S. GAAP Preliminary Results Year Ended December 31,   2021   2020 YoY Change Revenue $ 460,080 $ 179,503   156% Gross Profit $ 194,015 $ 62,143   212%   Net Loss $ (146,853) $ (119,649) $ (27,204) EBITDA (Non-GAAP) $ (63,698) $ (109,859) $ 46,161 Adjusted EBITDA (Non-GAAP) $ 57,852 $ (19,800) $ 77,652 Full Year 2021 IFRS Guidance and Preliminary Results The following table represents a comparative between the Company’s preliminary results for the year ended December 31, 2021 based on IFRS compared to the Company’s most recent 2021 guidance as issued on November 12, 2021: Metric IFRS Guidance IFRS Preliminary Results Combined Revenue $470M – $485M $473.8M Combined Adjusted Gross Margin (Non-IFRS) (1) 46%+ 45.1% Combined Adjusted EBITDA (Non-IFRS) $85M – $95M…

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Source : Columbia Care Reports Preliminary Full Year 2021 Results; Announces Revised Date for Fourth Quarter and Full Year 2021 Earnings Call

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