Simply Solventless Concentrates (HASH) Q4 2024 earnings summary

Executive summary

• Projected Q4 2024 gross revenue of $11.8M, up 64% quarter-over-quarter and 556% year-over-year, driven by organic growth and acquisitions.

• Q4 2024 adjusted EBITDA expected at $3.1M, a 210% increase sequentially and 3,000% year-over-year.

• Normalized net income for Q4 2024 projected at $3.0M, up 233% sequentially and 5,900% year-over-year.

• Annualized Q4 2024 revenue guidance at $47.2M, up 64% quarter-over-quarter and 798% year-over-year.

• Appointment of Tairance Rutter as VP, Marketing & Product Development, following the ANC acquisition.

Financial highlights

• Q4 2024 net income projected at $2.9M, a 569% increase sequentially and 2,294% year-over-year.

• Annualized Q4 2024 adjusted EBITDA projected at $11.0M, up 175% sequentially and 2,650% year-over-year.

• Annualized Q4 2024 normalized net income expected at $10.4M, up 189% sequentially and 5,100% year-over-year.

• SSC has exceeded its guidance in Q2 and Q3 2024 for revenue, adjusted EBITDA, and normalized net income.

Outlook and guidance

• SSC expects continued positive adjusted EBITDA and normalized net income streaks into Q4 2024.

• Synergies from recent acquisitions (CannMart and ANC) are expected to further reduce expenses in Q1 2025.

• Management anticipates a strong platform for continued growth entering 2025.