- Juva (JUVA) reported its financial and operating results for Q2, 2022, and announced a webinar to review results and provide updates
- Generated $1.8 million of revenue in Q2 2022, a 144 per cent increase over the same period last year
- Through its cannabis operations, the company completed multiple milestones including the launch of in-house brands `Secret Sauce” and “Flos”
- Juva Life engages in the business of cultivating and distributing medical and recreational cannabis products
- Juva Life Inc. (JUVA) remains unchanged, trading at C$0.165 per share at 4:28 pm ET
Juva (JUVA) reported its financial and operating results for Q2, 2022, and announced a webinar to review results and provide updates.
Financial highlights
- The company generated $1.8 million of revenue in Q2 2022, a 144 per cent increase over the same period last year
- For the six-month period ending June 30, 2022, the company generated $2.9 million in revenue, a 123 per cent increase, YoY
- Net loss for the quarter decreased from $2.8 million in Q2 2021 to $1.9 million in Q2 2022
Growth was driven by increased sales in both retail delivery business as well as sales of wholesale bulk cannabis flower, cultivated at the company’s recently expanded facility in Stockton, CA.
The company also completed an $11.8M financing in Q2 that allowed for the purchase of its Stockton facility. Additional funds will allow for expansion of both the cannabis operations and research programs.
Operationally, in the second quarter of 2022, Juva continued its preclinical research program on novel compound Juva-041. The compound has demonstrated potent anti-inflammatory properties in phenotypic assays of inflammation. It is currently being scaled up to support pre-clinical and non-clinical pharma development studies.
Beyond its clinical research programs, Juva also relaunched its WIRB-approved JuLi Registry study. Its goal is to cultivate one of the largest data sets on the medicinal applications of cannabis use to exist to date.
Through its cannabis operations, the company completed multiple milestones including the launch of in-house brands `Secret Sauce” and “Flos.” It received local provisional licensing of its cannabis retail storefront location in Redwood City. It also received an industry-leading, almost perfect score in its application review and is about to begin construction on the facility, with the application for State licensing concurrently under review.
The company has scheduled a webinar hosted by Chief Executive Officer, Doug Chloupek, at 4:30pm ET on September 6th, 2022.
Juva Life engages in the business of cultivating and distributing medical and recreational cannabis products. It uses state-of-the-art science to discover, develop and commercialize safe and effective wellness and pharmaceutical products.
Juva Life Inc. (JUVA) remains unchanged, trading at C$0.165 per share at 4:28 pm ET.