Delta 9 Cannabis Posts Q3 Revenue Guidance: What Cannabis Investors Need To Know

Delta 9 Cannabis Inc. DN DLTNF said this week that it anticipates achieving $15.1 million and $15.4 million in revenue in the third quarter of fiscal 2021, compared to $13.1 million for the same period last year.

In addition, for the nine months ending Sept. 30, the Winnipeg, Manitoba-based company expects revenue to amount between $45 million and $45.3 million, compared to $37.9 million for the same period of 2020.

The company will post its third-quarter results on Monday, Nov 15., before the market opens, with the conference call taking place at 9:00 a.m., the same day.

Delta 9 Cannabis’ previous quarter marked the seventh consecutive quarter of positive EBITDA, totaling CA$1.2 million ($969,503), leading to a loss per share of CA$0.01. The revenue for the period amounted to CA$16.75 million.

The cannabis company recently entered into a supply partnership agreement with VIVO’s wholly-owned subsidiaries, Canna Farms Limited and ABcann Medicinals Inc.

Under the deal, VIVO agreed to buy and list a selection of Delta 9 cannabis dried flower products for sale directly to Canna Farms’ nearly 20,000 active medical clients across Canada.

In addition, VIVO’s medical clients will have the opportunity to purchase Delta 9 cannabis products directly on VIVO’s Canna Farms e-commerce marketplace.

DLTNF Price Action

Delta 9’s shares traded 1.75% lower at $0.31 per share after the bell on Tuesday.

Photo: Courtesy of Delta 9 Cannabis Inc.