The Company generated gross revenue of $4,089,705 for the three-month period ended June 30, 2021, an increase of $3,956,815 from the gross revenue generated in Q1 2021.
The cost of sales for the three months ended June 30, 2021, was $2,952,592.
Net loss was $10,283,084 of which $5,937,614 was the result of share-based compensation and a loss per share of $0.09.
The Company achieved a gross margin of 28% for the three months ended June 30, 2021, compared to 23% in Q4 2021.
As of June 30, 2021, the Company had a working capital of $14,905,700, inclusive of cash of $13,573,427.
“PlantX continues to invest its efforts and resources strategically to grow and meet the demand for our plant-based products,” said PlantX Founder, Sean Dollinger. “It is encouraging to see the impact of our work. We are more committed than ever to continue building our business by executing on our mission and expansion goals.”
The information provided within this release should be read in conjunction with PlantX’s unaudited interim condensed consolidated financial statements for the three months ended June 30, 2021, and the accompanying management’s discussion and analysis for the three months ended June 30, 2021.
