The Green Organic Dutchman Starts Year with Record Quarterly Revenue, Reports First Quarter 2022 Results

The Green Organic Dutchman Starts Year with Record Quarterly Revenue, Reports First Quarter 2022 Results
Cannabtimes

<![CDATA[TORONTO, May 25, 2022 /CNW/ –PRESS RELEASE– The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (OTC: TGODF), a sustainable global cannabis company, reports its financial results for the quarter ended March 31, 2022. These filings are available for review on the company’s SEDAR profile at http://www.sedar.com. All financial information is provided in Canadian dollars except where otherwise indicated.Management Commentary: “We continued our momentum from Q4 2021 with strong Q1 2022 results, including another record month in March. These results can be attributed to the launch of new products and our existing products gaining further traction, affirming the strategic approach we have taken,” commented Sean Bovingdon, CEO of TGOD. “In addition to continuing to increase our retail distribution by investing in building relationships with the retail cannabis chains to expand distribution, we are preparing for future growth.  We remain on track to achieve breakeven EBITDA on a monthly basis in Q2 and are pursuing opportunities for additional cultivation for 2023 to meet the strong demand for our products, specifically our premium flower.  We continue to have strong conviction in our potential to achieve significant growth quarter over quarter, as we remain focused on quality and consistency, as well as continued cost discipline and execution to build a strong and sustainable organization and brands that consumers love.”First Quarter 2022 Financial Highlights:  Three months ended  Three months ended  March 31, 2022 March 31, 2021 Variance to Q1-2021 ($) Variance to Q1-2021 (%)  December 31, 2021 Variance to Q4-2021 ($) Variance to Q4-2021 (%) Net Revenue 10,575 5,389 5,186 96%  9,466 1,109 12% Cost of sales 6,868 5,348 1,520 28%  6,432 436 7% Gross profit (loss) before changes in fair value of biological assets 3,707 41 3,666 8941%  3,034 673 22% Gross profit (loss) % before changes in fair value of biological assets 35.05% 0.76%    32.05%…

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