CLEVER LEAVES Reports Revenues Above Expectations Despite Negative Earnings Per Share

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Despite reporting negative Earnings Per Share (EPS) of -$0.66, Clever Leaves ($NASDAQ:CLVR) reported revenues of $4.6M, which exceeded expectations by $0.45M. This is a significant achievement, given the challenging economic environment caused by the pandemic. Clever Leaves is a vertically integrated medical and recreational cannabis producer and medical device company based in Colombia. It is the first and only company to export medical cannabis and its derivatives to the European Union and other countries in Latin America. The company’s mission is to provide high-quality, safe and effective medical cannabis products, manufactured under the highest standards of quality.

In addition, Clever Leaves also produces and distributes medical devices related to cannabis consumption. Its most recent financial report was a testament to the company’s success, despite the global economic downturn. Clever Leaves continues to be a leader in the industry, showing that even in the face of difficult times, their strategy of producing high-quality products and providing innovative services has enabled them to remain profitable and exceed expectations.

Market Price

The company’s stock opened at $0.4 and closed at $0.4, up 1.5% from the prior closing price of $0.4. This was a positive surprise to investors, suggesting strong revenue growth in the coming quarters. The company’s impressive results were driven by increased sales across their wide range of products, which has helped to offset the negative impact of rising costs and expenses. This has enabled CLEVER LEAVES to remain competitive in the market, despite the challenging economic environment.

In addition, the company has implemented several cost-cutting measures, such as reducing staff and optimizing operations, which have enabled them to maintain their profitability. This has enabled them to continue to invest in their products and innovation, creating new opportunities for future growth. Investors are optimistic that the company will be able to continue their successful performance in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Clever Leaves. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Clever Leaves. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Clever Leaves. More…

Key Ratios Snapshot

Some of the financial key ratios for Clever Leaves are shown below. More…

Analysis

At GoodWhale, we recently took a closer look at the financials of CLEVER LEAVES. Our Star Chart analysis showed that CLEVER LEAVES has strong assets and growth, but a weak dividend and profitability. The company has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it is likely to pay off debt and fund future operations. Based on these findings, we classified CLEVER LEAVES as a ‘cheetah’. This type of company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. As such, investors who are looking for short-term capital gains may be interested in such companies. However, investors who are looking for more long-term investments should consider companies with higher profitability and more stable returns. More…

Peers

Clever Leaves Holdings Inc is an emerging player in the cannabis industry. It is the first major international player to enter the scene and compete with established companies such as Bhang Inc, Fiore Cannabis Ltd and Green Thumb Industries Inc. Its focus is on cultivating premium grade cannabis products, providing them to consumers at a competitive price.

– Bhang Inc ($OTCPK:BHNGF)

Bhang Inc is a US-based cannabis company that produces high-quality cannabis products such as edibles, flower, concentrates, and topicals. The company has achieved impressive financial results, which has led to an impressive market cap of 4.68M as of 2023. Moreover, its Return on Equity (ROE) of 212.6% is indicative of the company’s success in leveraging its assets and generating profits for its shareholders. This impressive ROE is well above the industry average, and has helped Bhang Inc’s stock to become one of the most sought-after investments in the cannabis sector.

– Fiore Cannabis Ltd ($OTCPK:FIORF)

Fiore Cannabis Ltd is a Canadian-based cannabis company that focuses on the production, distribution, and sale of medicinal cannabis products. The company’s market cap as of 2023 is 315.28k, which is indicative of the company’s growth and success over the years. Furthermore, the company has achieved a Return on Equity of 423.76%, which demonstrates the level of profitability achieved by the company. The company strives to provide premium quality products while adhering to the regulatory standards of their respective markets.

– Green Thumb Industries Inc ($OTCPK:GTBIF)

Green Thumb Industries Inc is a leading cannabis company that operates in 12 states across the US. It has a market cap of 1.88B as of 2023, which is a reflection of its strong position in the industry and its potential for future growth. The company’s Return on Equity (ROE) ratio is 4.81%, which is an indication of its ability to generate profits from its equity capital. Green Thumb Industries Inc’s operations are focused on manufacturing, distributing, and retailing cannabis products to customers across the United States. This diversified approach is helping the company to capture new markets and drive increased revenues.

Summary

Investors have had mixed reactions to the financial performance of Clever Leaves. The company reported an adjusted earnings per share (EPS) of -$0.66 for the latest quarter, missing analyst estimates by $0.51. On the other hand, revenue of $4.6M beat expectations by $0.45M.

The stock market has been volatile in response to the earnings report, giving investors conflicting signals on how to evaluate the company’s performance. Experts are now examining the numbers to determine if the company is a worthwhile investment.