CannaRoyalty Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for the Full Year of 2018
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.