CannaRoyalty Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues were CAD 3,511,466 as compared to CAD 960,157 a year ago. Loss from operations of CAD 5,459,281 compared to CAD 2,320,004 a year ago. Net income before tax of CAD 9,238,296 compared to loss of CAD 2,096,237 a year ago. Net income for the period of CAD 9,298,488 or CAD 0.17 per diluted share compared to loss of CAD 2,017,556 or CAD 0.05 per basic and diluted share a year ago. Adjusted EBITDA income was CAD 11.1 million as compared to a loss of CAD 1.0 million, an increase of CAD 12.1 million; and Adjusted EBITDA income per diluted share of CAD 0.20 as compared to a loss of CAD 0.02, an increase of CAD 0.22 per basic share. The company generated CAD 3.5 million in revenue, up from CAD 960,000 in Second Quarter of last year and, most significantly, up from CAD 640,000 in first quarter, an increase of 446%.

For the six months, the company reported revenues were CAD 4,154,903 as compared to CAD 1,261,268 a year ago. Loss from operations of CAD 9,968,925 compared to CAD 5,128,292 a year ago. Net income before tax of CAD 4,753,070 compared to loss CAD 4,141,214 a year ago. Net income for the period of CAD 4,644,015 or CAD 0.09 per diluted share compared to CAD 4,521,296 or CAD 0.10 per basic and diluted share a year ago. Purchase of property and equipment of CAD 295,223 compared to CAD 132,014 a year ago. Cash flows used in operating activities of CAD 6,350,876 compared to CAD 4,864,753 a year ago. Total Adjusted EBITDA was CAD 9,722,777 or CAD 0.19 per diluted share compared to LBITDA of CAD 1,506,075 or CAD 0.4 per basic and diluted share a year ago.

For the year 2018, The company expects to exit 2018 at a significantly higher quarterly revenue run rate than CannaRoyalty's record rate of second quarter.