Indiva Limited Provides Revenue Guidance for Fiscal Third Quarter 2020
October 06, 2020 at 12:00 pm
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Indiva Limited announced that it expects record net revenue in fiscal third quarter 2020 in the range of $2.8 to $3.1 million. This represents over 1,400% year-over-year and 9% sequential net revenue growth at the low end of the revenue guidance range, when compared with net revenue previously reported of $0.19 million and $2.56 million in fiscal third quarter2019 and fiscal second quarter 2020 respectively. The month of September also saw record monthly net revenue for Indiva. The increase in net revenue in fiscal third quarter 2020 was driven primarily by the national rollout of Wana™ Sour Gummies, which became available in four provinces and one territory in September 2020, as well as the continued popularity of Indiva’s other edible and 2.0 products, including Bhang® Chocolate. Indiva held leading market share of 28.8% in the edibles category in the province of Ontario, for the month of September.
Indiva Limited, through its indirect wholly owned subsidiary, Indiva Inc., is a Canada-based producer of cannabis servicing the medical and recreational markets. The Company is engaged in producing and selling cannabis products, including dried flower, extract, and edible products. It focuses on the production and processing of edible and extract cannabis products as well as packaging of edibles and extracts. Its brands include Pearls by Gron, Bhang Chocolate, Indiva Doppio Sandwich Cookies, Indiva 1432 Chocolate, and No Future Gummies and Vapes, as well as other Indiva branded extracts. Its products include edibles and capsules. Its edibles include Vanilla Double -Stuffed Chocolate Cookie, Fudge Double-Stuffed Chocolate Cookie, and Golden Vanilla Double Stuffed Cookie. It sells its cannabis products to consumers in the recreational market in the provinces of Ontario, British Columbia, Alberta, Quebec, Nova Scotia, Saskatchewan, Manitoba, New Brunswick, Prince Edward Island, Newfound.
INDIVA LIMITED 
