Drive-Thru Cannabis Sales Help C21: Same-Store Sales Up, But Revenue Down In Q3
C21 Investments reported a 4.5% year-over-year and a 3.9% sequential decrease in revenue to $6.9 million for the third quarter ended October 31. The Vancouver-based company also reported a sequential increase in same-store sales. Gross profit totaled $2.7 million, down from $3.9 million in the prior year's quarter, and the net loss was $376,150 compared to net income of $248,507 in the same period last year. C21 Investments generated $0.9 million of adjusted EBITDA, unchanged from the prior quarter, and cash at the end of Q3 was $1.9 million, unchanged since the start of the year.
