TRTC - More on Terra Tech's FY20 results

Terra Tech ([[TRTC]] -0.1%) reported FY revenue decline of 12.6% Y/Y to $14.39M, driven by a dispensary revenue decline of $5.98M hit by a customer traffic decline from COVID-19 and six combined months of store closures.Gross margin declined by 3,757 bps to 25.2%.Net loss attributable to Terra Tech was $30.12M with loss from continuing operations of $13.8M, as compared to a net loss of $46.93M a year agoCompany has $888K in cash as of December 31, 2020.Company CEO mentions that they have a pipeline of opportunities that they are reviewing in California and contiguous states.“Our short-term goal is to become the premier West Coast and Southwest operator of cannabis assets with a focus on brands and dispensaries. Based on our growth trajectories and new operations coming online during 2021, we believe that the combined companies will generate revenues in excess of $70M in 2021,” commented Frank Knuettel, CEO.Previously: Terra Tech reports FY results (March 30)

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More on Terra Tech's FY20 results