Outperforming The Market: CLS Holdings USA, Inc. Reports Its Second Quarter Results with Latest 10Q – Yahoo Finance

January 13, 2022

Initial unemployment claims unexpectedly jumped last week.

LAS VEGAS, NV / ACCESSWIRE / January 13, 2022 / CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced its operational and financial results for the second quarter of fiscal 2022, ended November 30, 2021.
Key Q2 Financial & Operational Accomplishments
The Company saw meaningful revenue growth for the quarter ended November 30, 2021 with an increase in revenue of 10% compared to the quarter ending November 30, 2020
Revenue growth at City Trees proved to be significant with an increase of 55% compared to last year's Q2 numbers
City Trees continued to show positive momentum with a 4% increase in revenue quarter over quarter for fiscal '22
CLS was able to achieve its goal of a gross profit margin of 50% or greater for the quarter
Oasis Cannabis, CLS' retail division, continued to see an average spend per customer of greater than $55, remaining consistent with the prior year's quarter
City Trees, the Company's branded product division, saw a number of successes this quarter:
Recorded a continued increase in monthly year-over-year net revenue for the quarter
Awarded top-performing brand of Nevada, November 2021 by Leafink, which considers data and analytics across a multitude categories, states, and markets
Recognized as winner for fastest growing THC Distillate and top-selling THC Distillate in Leaflink List, 2021 in the concentrate category
Milestone reached for selling over $1 million of one gram cartridges for the quarter
Continued as the number one selling tincture brand in the state of Nevada according to BDS Analytics
Number one brand for the entire concentrate category in units sold in the state of Nevada during the quarter, selling over 125,000 units, according to BDS Analytics
Number one brand for the dabbable concentrate category in both dollars and units sold in the state of Nevada during the quarter, according to BDS Analytics
"Despite a downturn in the legal cannabis market, we have seen a solid increase in City Trees' numbers," said Company President & COO Andrew Glashow. "This is a testament to the traction the brand has gained over the past year and its loyal customer base. Our ability to offer a consistently reputable and reliable product at an affordable price has been our strong suit and the brand's continued growth is a powerful indication of its resonance with consumers.'
According to BDSA, the legal cannabis industry in Nevada, while doing more than $1 billion in sales, showed a decrease in its growth during 2021. State sales for September and October were down 8.4% compared to the previous respective months and down more than 10% from the comparable months during 2020. In addition, the market saw a downturn in cannabis flower numbers of 25% from last year. The market decline can be attributed to a few factors including the new wave of COVID-19 and the consequences of such, decreased tourism in the region, an increase in consumers needing to take quarantine measures, the trend of inexpensive flower flooding the market, and varying employment numbers in the state. While the market softened, the Company saw an increase in quarterly revenue year over year primarily driven by the Company's branded product division, City Trees.
City Trees has maintained significant quarterly year-over-year sales increases with a 55% increase in net income from the prior year's quarter. Further, the brand continues to see month over month gains with a 4% increase in revenue compared to the quarter prior. When looking at the six months ended November 2021, City Trees saw an increase in revenue of 91% compared to the six months ended November 2020. The brand also received a number of accolades for sales growth.
While the Company's retail division, Oasis Cannabis saw a slight decline in revenue of 3.8% for the quarter, the Nevada legal cannabis market was down over 10% during this period giving the Company a positive indicator when the market turns around.
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patented proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company's business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services. https://www.clsholdingsinc.com/
Twitter: @CLSHoldingsUSA
Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. In February 2019, it was named "Best Dispensary for Pot Pros" by Desert Companion Magazine. In August 2017, the company commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. http://oasiscannabis.com
Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production and distribution company. Offering a wide variety of products with consistent results, City Trees products are available in numerous dispensaries throughout the state of Nevada. https://citytrees.com
Forward Looking Statements
This press release contains certain ''forward-looking information'' within the meaning of applicable Canadian securities legislation and ''forward-looking statements'' as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the ''forward-looking statements''). These statements relate to, among other things, our estimates of future revenue, gross margin, number of transactions at our dispensary and average order size, the timing of the commencement of manufacturing operations for our pre-roll joint venture, the number of products expected to be produced each month and how long it will take the pre-roll joint venture to achieve expected monthly sales, the acceptance of our joint venture products by customers, whether other companies will enter into license agreements to have our pre-roll joint venture produce pre-rolls for them, whether our New Mexico venture and other licensing opportunities will lead to expansion In other states, and other factors and issues typically related to and encountered by a growth stage venture. These statements will also be Impacted by the impact of the COVID-19 virus on our business, the results of our initiatives to retain our employees and strengthen our relationships with our customers and community during the pandemic, the effect of our initiatives to expand market share and achieve growth during and following the pandemic, results of operations and financial performance, anticipated future events, and the effectiveness of our business practices during the pandemic. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. Due to the uncertainties associated with the continued spread of COVID-19 and the timing of vaccinations, it is not possible to estimate its impact on our business, operations or financial results; however, the impact could be material. In some cases, you can identify forward looking statements by terminology such as ''may,'' ''might,'' ''will,'' ''should,'' ''intends,'' ''expects,'' ''plans,'' ''goals,'' ''projects,'' ''anticipates,'' ''believes,'' ''estimates,'' ''predicts,'' ''potential,'' or ''continue'' or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events. See CLS Holdings USA filings with the SEC and on its SEDAR profile at www.sedar.com for additional details.
Contact Information:
Chairman and CEO
Jeff Binder
President and COO
Andrew Glashow
Investor Relations:
SOURCE: CLS Holdings USA, Inc.

View source version on accesswire.com:

The Oracle of Omaha knows how to beat inflation. So ride his coattails.
Cathie Wood, the star fund manager and chief executive of ARK Invest, in a Tuesday monthly market update says that the used car market is where she is expecting possible losses after a surge in values.
DEEP DIVE A period of high inflation and rising interest rates has taken out shares of companies with rich valuations. Then there’s the stubborn coronavirus, with variants raising infection rates and causing stocks in travel-related industries to crash after they staged partial recoveries.
Taiwan Semiconductor Manufacturing, the world's largest chip foundry, on Thursday beat analyst estimates for the fourth quarter.
Jeremy Siegel, professor of finance at the University of Pennsylvania’s Wharton School of Business, on Wednesday sounded sanguine about the equity market, even as he conceded that inflation is likely to be more pernicious than Wall Street expectations, causing the Federal Reserve headaches.
These ARK Innovation ETF holdings are trading at bargain valuations, but their longer-term outlooks are promising.
In this article, we discuss the 5 stocks to consider in the latest portfolio of that Nancy Pelosi. If you want to skip our detailed analysis of these stocks, go directly to Nancy Pelosi Latest Portfolio: 2 Stocks to Watch. The stock trading activities of lawmakers on both sides of the aisle have come under […]
If you've got the time and intestinal fortitude to deal with a stock's big ups and downs, a big potential payoff awaits. If you think Advanced Micro Devices (NASDAQ: AMD) is always behind Nvidia in the graphics card market while at the same time perpetually playing second fiddle to Intel within the computer processor arena, you're right. Namely, Advanced Micro Devices' hardware is a favorite among hardcore video gamers because it's affordable without sacrificing performance.
While for some stocks in the S&P 500, it's their large dividend yields that make them attractive picks, I like to focus on companies with payout ratios below 50%. Ultimately, these dividend growth stocks steadily outperform the market, despite paying smaller dividends initially. Let's look at four stocks that fit this bill and offer some of the highest dividend potential in the S&P 500.
It's Wednesday morning, and Alibaba Group Holding (NYSE: BABA) stock is still going up. Do you remember what I said about Alibaba yesterday? Well, this morning, the chorus singing Alibaba's praises got even bigger.
Intel (NASDAQ: INTC) and Advanced Micro Devices (NASDAQ: AMD) have experienced contrasting starts on the stock market in 2022, with the former heading higher despite the sell-off in tech stocks. AMD, meanwhile, has lost ground, as investors seem to be hitting the sell button on tech stocks trading at rich valuations thanks to a potential increase in interest rates by the Federal Reserve. On the other hand, the signs of a turnaround at Intel and its cheap valuation have probably made it an attractive bet for investors hunting for value plays.
The start of a new year is always a convenient time to evaluate, or reevaluate, the stock portfolios. With a year’s worth of data behind us, and fresh forecasts ahead, investors can use the fresh start on the calendar to figure out if they need a rethink on their investment strategy. In a note from Morgan Stanley, chief investment officer Mike Wilson defines the key question for investors now as a simple binary decision, between staying with relative winners or going ‘bottom fishing.’ Each has i
Pfizer Inc.'s ( NYSE:PFE ) dividend will be increasing to US$0.40 on 4th of March. The announced payment will take the…
If investors are willing to forego a high yield today, the following growth stocks look like bargains, and they pay small but growing dividends along the way as a bonus.
These three stocks are yielding between 5.3% and 7.9%, but they are trading at low valuations with strong catalysts to appreciate.
FCX stock led a rally among mining stocks as the copper prices climbed on hopes for robust global growth as the omicron variant recedes.
Here’s one to be aware of for 2022: Value stocks will most likely beat their growth counterparts. * The Vanguard S&P 500 Growth Index exchange traded fund (VOOG) is down 5.6% year to date, while the Vanguard S&P 500 Value Index fund (VOOV) is flat. * Value groups including banks and energy stocks are crushing growth stocks like Ark Invest’s favorite names.
Micron Technology, Western Digital, and Applied Materials are some of Mizuho's top semiconductor picks for 2022. Advanced Micro Devices gets an honorable mention.
Increased provisions for a product recall and the pandemic's impact on the installation of its medical equipment hurt the company in the fourth quarter.
Three stocks with massive upside potential are Crowdstrike (NASDAQ: CRWD), The Trade Desk (NASDAQ: TTD), and Twilio (NYSE: TWLO). Each has both explosive growth and exciting 2022 prospects. Crowdstrike's mission is simple: "to stop breaches."


Article Tags:
Article Categories:
Health · News

Leave a Reply

Your email address will not be published. Required fields are marked *