Movers and SHAKERS
Driven By Stem (STMH)(STEM:CA)
Record Fiscal Second Quarter Revenues; Business Update
Stem Holdings Inc is engaged in the purchasing, improving, and leasing of properties and finance assets which are operated by third parties and are used for the cultivation and retail sale of marijuana. Its properties includes 42nd Street, and Mulino Farm which are used for agriculture. The company generates its revenue in the form of rental income from tenants.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Management Call. We had the opportunity to speak with management following the Company's release of second quarter results for fiscal 2021. This quarter was the first combined quarter following the Driven merger. While integration is ongoing, management continues to move forward with expansion, most recently highlighted into Michigan. We believe the Company is poised for greater growth through its expanded footprint of retail, delivery, and branded products.
2Q2021 Results. Gross revenue of $12.4 million compared to $2.7 million. Net revenue, after deducting for discounts and returns, of $10.5 million versus $2.3 million. Gross profit increased to $2.7 million from $0.7 million. Adjusted EBITDA grew to $1.7 million compared to negative $5.8 million last year. Stem reported a net loss of $8.6 million, or $0.06 per share, compared to a net loss of $4.8 ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.