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Canadian cannabis company Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTC:EMHTF) reported second-quarter sales of $5.1 million, up by 94% from the previous quarter.
Emerald Health Therapeutics achieved positive adjusted EBITDA of $1.9 million, up by $5.4 million from the first quarter.
The company also disclosed a net loss per common share of $0.003, versus $0.043 in the previous quarter.
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During the second quarter, Emerald Health Therapeutics worked on improving the success of Pure Sunfarms, completing the licensing endeavors of its facilities, enabling the extraction of THC and CBD oil, and starting the distribution of new non-cannabis products that can inflect the endocannabinoid system to advance consumer’s health.
The company also appointed Riaz Bandali as the new CEO.
“Emerald has a deliberate and sequential strategy for sustainable growth. The completion of our Pure Sunfarms joint venture’s first greenhouse and its significant revenue and net income growth make this operation one of our most valuable assets. Combining this with the foundation we have built to synchronize and scale every aspect of our business from production to post-harvest processing and product development positions Emerald to see continued financial growth of the company,” said Dr. Avtar Dhillon, President and Executive Chairman.
The stock traded at $1.40 per share on Thursday morning.
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