WeedMD Reports Fiscal Year 2020 Financial Results and First Quarter 2021 Preliminary Gross Revenue of $12 Million
- Net revenue increased 41% YOY to $29.4 million for the full year ended December 31, 2020
- Kilograms harvested in 2020 grew 88% over prior year to 33,751 with more Grade A flower
- Weighted average cost per gram of $0.46 in 2020 decreased by 42% from $0.79 in 2019 partly due to cost efficiencies implemented
- Preliminary unaudited Q1 2021 gross revenue of $12 million(1) represents 40% growth in high-margin, direct-to-consumer/patient sales when compared to prior year, up 72% from Q4 2020
- Management to…