The company has undergone some turbulence because of the pandemic and because of recent pivots in their business strategy. Neptune’s Q3 financial results show a decrease in revenue and an increase in operating expenses. Some revenue has decreased because of their business pivot from B2B extraction to end-product placement. Other revenues have decreased because of the lack of sales in health and wellness products, cannabis products, turnkey products.
The company is operating at a loss, but there is promise after recovery
In addition, net loss was caused by issues with the introduction of new wellness products in America. The company introduced new sanitizer products as well as other pandemic-related health products. There were several problems with rolling out the products efficiently. Although the issues are fixed now and revenue will be seen from these ventures, the company had to apply for approval and license with the EPA and FDA before the products could be delivered in America.
**EV calculations are from www.TIKR.com
LAVAL, QC , May 27, 2021 /CNW Telbec/ – Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated company, today announced the launch of PanHash™ in Quebec .
Neptune cannabis products are available for adult-use in Alberta , British Columbia and Ontario . With the launch of PanHash in Quebec , Neptune's PanHash™ and Mood Ring™ products may be sold in up to 1,600 locations throughout Canada and broadens distribution to more than 80% of Canada's total addressable market for legal cannabis.
PanHash™, Neptune's cannabis brand specifically developed to reflect Neptune's Quebec roots and heritage, is launching two products with a high concentration of CBD: a cannabis oil and capsules. These products are produced using the Company's proprietary cold ethanol extraction process, which consumes significantly less energy than traditional CO2 extraction, preserving a high concentration of the plant's terpenes.