Mettrum (MT) Reports Revenue & Margin Growth as It Surpasses 12,000 Clients
Ryan Allway
June 30th, 2016
News, Top Story
[stockchart symbol=MQTRF]
Mettrum Health Corp. [stockquote symbol=MQTRF] (TSX-V: MT), a fully integrated provider of cannabis and related products under Canada’s MMPR, recently announced fourth quarter revenue that increased 35% to $2,714,468 and a 38% reduction in its adjusted EBTIDA loss.
These financial results were driven by a 44% increase in its client base to 7,200 (as of June 29 it had 12,000), a 32% increase in the number of grams sold to 305,950, and an increase in the average selling price per gram from $7.90 to $8.23. On its balance sheet, the company reported $7.1 million in net cash and raised $7.8 million in a subsequent financing, which puts it on strong footing moving forward as it continues to expand.
“The final quarter capped off a year of continuously improving growth in revenue and operating margins,” said Mettrum CEO Michael Haines. “With all three of our facilities licensed for production and sale of dried cannabis and cannabis extracts, we will continue to grow the business and achieve cash flow break even while maintaining market share. Mettrum will continue to build upon our physician centric medical business and due to our current and future production capacity, and operational expertise, the company is exceptionally well positioned to be a major player when the recreational market opens up in Canada. It is our goal to launch our first retail oriented products within the year.”
Shares of Mettrum Health Corp. have risen nearly 10% over the past week.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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