VFF - Village Farms International falls 6% after top-line miss

Village Farms International (VFF) is down 6% after top-line miss in the fourth quarter results.Revenue of $47.36M (+43.3% Y/Y) misses by $6.62M. The increase in year-over-year sales was primarily attributable to the acquisition of Canadian cannabis subsidiary Pure Sunfarms in November.Pure Sunfarms achieved 28% sequential quarterly growth and 248% Y/Y growth in retail branded sales to provincial distributors to $15.5M.Adj. EBITDA was a loss of $0.5M (+95% Y/Y).GAAP EPS of $0.11 beats by $0.10.The company ended the quarter with $21.64M in cash and cash equivalents."We look forward to continued growth in branded retail sales in 2021 and we are opportunistic with respect to sales to other producers as many of them look to Pure Sunfarms as an economic source of consistent, high quality flower," says CEO Michael DeGiglio.Now Read: Pot stocks in spotlight as Governor Cuomo comments on legalization bill

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Village Farms International falls 6% after top-line miss