CannTrust Holdings (NYSE:CTST,TSX:TRST) issued its financial results for its Q1 2019.
As quoted in the press release:
“The CannTrust team delivered exceptional operational growth in the first quarter, with harvested production of over 9,400 kilograms. This is a 96 percent increase in production over the prior quarter and reflects the impact of the investments made into our facilities, as well as process improvements to increase throughput,” said Peter Aceto, Chief Executive Officer.
First Quarter 2019 Highlights
- Record quarterly revenue of C$16.9 million, a 115 percent increase over the first quarter of 2018, 67 percent was through the medical channel and 33 percent through the recreational channel;
- Total active patient count reached 68,000 at March 31, 2019, a 70 percent increase over the first quarter of 2018;
- Harvested production increased by more than 400 percent to over 9,400 kilograms, versus the first quarter of 2018, and 96 percent over the fourth quarter of 2018;
- Sold over 3,000 kilograms of dried cannabis equivalent, a nearly 200 percent increase over the prior year, at an average net price of C$5.47 per gram;