- Neptune Wellness (NEPT) announced its financial and operating results for the three-month and twelve-month periods ending March 31, 2022
- Fiscal fourth quarter revenue totaled $11.5 million, an increase of 147 per cent compared to $4.7 million for the same period last year
- Neptune is a diversified health and wellness company with a mission to redefine health and wellness
- Neptune Wellness Solutions Inc. (NEPT) is down 1.11 per cent, trading at C$1.78 per share at 2:10 pm ET
Neptune Wellness (NEPT) has announced financial and operating results for the three-month and twelve-month periods ending March 31, 2022.
Q4 and full year financial highlights:
- Fiscal fourth quarter revenue totaled $11.5 million, an increase of 147 per cent compared to $4.7 million for the same period last year
- Fiscal year 2022 revenue totaled $48.8 million, an increase of 37.8 per cent compared to $35.4 million for the same period the year prior
- Fourth quarter net loss of $36.2 million compared to a reported net loss of $43.5 million in the comparable period in 2021
- Fiscal year 2022 net loss of $84.4 million compared to a net loss of $124.3 million for the fiscal year 2021
- Adjusted EBITDA (non-GAAP) loss for fiscal year 2022 was $43.8 million compared to an Adjusted EBITDA (non-GAAP) loss of $39.4 million for the fiscal year 2021
Q4 business highlights:
- Further reductions of corporate overheads by expanding in-house legal capabilities
- Appointment of Julie Phillips as Chair of Neptune’s Board of Directors
- Launched and expanded a first of its kind co-branded product line with “CoComelon”
- Received a 180 calendar day extension from Nasdaq’s Listing Qualification Department to meet Nasdaq’s minimum bid requirement
- Launched Forest Remedies Multi-Omega 3-6-9 Supplements in 340+ Sprouts Farmers Market stores across the U.S
- Announced a US$8,000,000 Registered Direct Offering
Subsequent events and business updates:
- Launched new CPG-focused strategic plan to profitability
- Appointed Raymond Silcock as Chief Financial Officer
- Appointed Philip Sanford as Audit Chair of Neptune’s Board of Directors
- Launched new line of CoComelon co-branded organic snack bars
- Announced completion of share consolidation from approximately 198 million Common Shares to approximately 5.7 million.
- Announced a US$5,000,000 Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Neptune is a health and wellness company with a mission to redefine health and wellness. It focuses on building a portfolio of high-quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands.
Neptune Wellness Solutions Inc. (NEPT) is down 1.11 per cent, trading at C$1.78 per share at 2:10 pm ET.