Harvest One Cannabis sees strong fiscal 3Q operating performance and revenue as it controls costs
Harvest One Cannabis Inc (CVE:HVT) (OTCQB:HRVOF) has posted fiscal third-quarter results that show significant improvements in the companys operating performance and financial position, including revenue that grew 7.3% year-over-year as the company kept a tight grip on costs. For the period ended March 31, 2021, the Vancouver-based cannabis-infused consumer packaged goods (CPG) company reported revenue of $2.02 million, compared to $1.88 million in the fiscal third quarter of 2020. Harvest One chalked up the revenue gain to a continuing transition from cultivation to CPG products. The company has been successful with its premium wellness and self-care products, including LivRelief and Dream Water products, which focus on the sleep and pain markets. READ: Harvest One expands LivRelief portfolio with the launch of its Extra Strength Transdermal CBD Cream The company also reported a 37% gross profit from continuing operations during the quarter. This increase is driven by continuous operational improvements and cost control initiatives over the last nine months, it said.
Harvest One Cannabis sees strong fiscal 3Q operating performance and revenue as it controls costs
Harvest One Cannabis Inc (CVE:HVT) (OTCQB:HRVOF) has posted fiscal third-quarter results that show significant improvements in the companys operating performance and financial position, including revenue that grew 7.3% year-over-year as the company kept a tight grip on costs. For the period ended March 31, 2021, the Vancouver-based cannabis-infused consumer packaged goods (CPG) company reported revenue of $2.02 million, compared to $1.88 million in the fiscal third quarter of 2020. Harvest One chalked up the revenue gain to a continuing transition from cultivation to CPG products. The company has been successful with its premium wellness and self-care products, including LivRelief and Dream Water products, which focus on the sleep and pain markets. READ: Harvest One expands LivRelief portfolio with the launch of its Extra Strength Transdermal CBD Cream The company also reported a 37% gross profit from continuing operations during the quarter. This increase is driven by continuous operational improvements and cost control initiatives over the last nine months, it said.