Delta 9 Cannabis Inc. (TSX:DN) has told investors that it will report a rise in fourth-quarter and full-year 2021 revenue as it continues to grow revenue streams from its three core business units.
For the three months ended December 31, 2021, the Winnipeg, Manitoba-based vertically integrated cannabis company said it expects net revenues of between $16.6 million and $17.4 million, an increase of 17%-23% from the same quarter a year earlier. The guided range is 9%-14% higher than 3Q revenue of $15.2 million.
It said it anticipates full-year net revenues to be between $61.8 million and $62.6 million, compared to $52.1 million for fiscal 2020.
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“We are anticipating reporting strong year-over-year and sequential revenue results for the fourth quarter of 2021,” CEO John Arbuthnot said in a statement.
“Delta 9 is working to differentiate itself from its peers by posting strong financial and operating results and continuing to grow its revenue streams from its three core business units,” he added.
The company said it will provide investors with a full breakdown on its progress in these areas as a part of its year-end and fourth-quarter results which will be released on March 31, 2022, before markets open.
Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square-foot production facility in Winnipeg, Manitoba. Delta 9 also owns and operates a chain of retail stores under the Delta 9 Cannabis store brand.
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