CCHWF - Columbia Care provides Q4 prelims exceeding consensus

Columbia Care (CCHWF) provides prelims for Q4 and FY20 and also issues 2021 guidance exceeding consensus estimates.The company reports a strong balance sheet with more than C$179M raised subsequent to year-end; well-positioned for additional accretive acquisitions and targeted growth CapEx in markets converting from medical only to adult use."Our record breaking Q4 performance was driven by continued revenue growth and margin expansion. We generated robust sequential and year-over-year increases in Combined Revenue (+51% Q/Q,+234% Y/Y), Gross Profit (+61% Q/Q,+465% Y/Y) and Adjusted EBITDA (+124% Q/Q)," CEO Nicholas Vita commented.FY21 Outlook: The company expects proforma combined revenue, adj. gross margin and adj. EBITDA of $500-$530M, 47%+ and $95-$105M respectively.Pro forma 2021 outlook assumes the company's pending acquisition of Green Leaf Medical closes in Q3.

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Columbia Care provides Q4 prelims exceeding consensus