Pathfinder Ventures (TSX-V:RV) Inc has reported a substantial increase in its 4Q revenue following the company’s acquisition of three camp resorts in British Columbia.
For 4Q 2021, the company reported revenue of $465,575, compared to $108,936 for the same period in 2020, which Pathfinder attributed to the acquisition of the camp resorts.
READ: Pathfinder closes on property deal to expand its RV resort in Agassiz, British Columbia
Pathfinder CEO Joe Bleackley said in 2021 the company had laid the foundation and groundwork for a successful future in Canada’s growing RV resort industry.
“Pathfinder is focused on delivering the best possible experience for our RV guests and we are thrilled to see the increase in interest and reservations at our Pathfinder Camp Resorts,” Bleackley said.
During the three-month period to end December 31, 2021, the group also narrowed its adjusted EBITDA loss to $209,548, compared to $445,911 during 4Q 2020, attributed primarily to its public listing on the TSX Venture Exchange and reduced activity during project acquisitions in 4Q of 2020.
For the 2021 financial year, the company also reported a significant increase in revenue of $2,462,427, up from $108,936 for the 2020 financial year. Adjusted EBIDTA loss came in at $323,212 compared to $557,615 in the 2020 finanical year.
Attendance up
Pathfinder also highlighted an increase in camp resort site nights for the 2021 financial year of 51,481, up from 31,994 for the year prior.
Its cash balance grew to $2.1 million as of December 31, 2021 versus $1.1 million at the same point in 2020.
The company said it plans to announce more RV resort locations and fine-tuning operations on its three fully operational parks in 2022.
Pathfinder Ventures (TSX-V:RV) operates a network of premier branded, upscale, and family-friendly RV parks and campgrounds.
Contact Emily at emily.jarvie@proactiveinvestors.com
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