1Q22 Results. GABY reported first quarter revenue of $7.3 million (all figures in CAD$), up from $3.4 million reported last year, driven by the acquisition of Mankind, but down from the $8.2 million in 4Q21. We had estimated revenue of $8.5 million. Variable gross margin for the quarter improved to 47.6% compared to our 47.5% projection. GABY recorded adjusted EBITDA of $0.5 million in the quarter, compared to $0.86 million in 4Q21. Net income for the quarter totaled $1.5 million, or $0.00 per share, driven by one-time items, versus a net loss of $3.9 million, or $0.01 per share, in 4Q21.Return to Normalcy, Challenging Market Impact Results. The sequential decline in revenue was driven by a return to post-COVID normalcy in cannabis sales and a challenging California market, as we have highlighted previously. Revenues are now back close to pre-COVID levels. Read More >>