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Clever Leaves Holdings Warrants (CLVRW) is a Colombian company poised to become the largest grower and extractor in the cannabis industry by 2023. With over 10 million square feet of cultivation capacity, pharmaceutical-grade facilities, and a focus on low-cost operations, Clever Leaves is a pioneer in the medical cannabis field. The company's strategic approach, strong regulatory relationships, and experienced team position it as a leader in the global market.
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Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) announced a voluntary delisting and SEC deregistration of its common shares and warrants from Nasdaq to terminate reporting obligations. The last day of trading on Nasdaq is expected to be on or about May 16, 2024. The Company plans to suspend reporting obligations under the Exchange Act by filing a Form 15 with the SEC. The Board's decision was based on careful evaluation of factors including non-compliance with Nasdaq listing requirements and high regulatory costs.
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Clever Leaves Holdings Inc. reported a 6% increase in revenue for 2023, driven by a 39% rise in full-year cannabinoid revenue. The company also achieved a 26% reduction in general and administrative expenses in Q4 2023 and a 24% reduction for the full year. Additionally, Clever Leaves completed the sale of its non-cannabinoid herbal brands business for $8.02 million, enhancing its focus on the cannabinoid segment.
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Clever Leaves Holdings Inc. partners with Paradise Seeds to develop and register high-performance cannabis cultivars in Colombia, aiming to expand its global footprint. This collaboration marks the first agronomic registrations of Paradise genetics in Colombia, enabling licensed cultivation and production of Paradise strains for export to global medicinal cannabis markets.
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Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a global medicinal cannabis company, has been granted Australian GMP certification by the TGA for the manufacturing of cannabis products in Colombia. This makes Clever Leaves the first and only medicinal cannabis company globally with GMP certifications from the European Union, Colombia, Brazil, and Australia.
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Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) reports Q3 revenue increase of 33% YoY, driven by 135% YoY growth in cannabinoid revenue. Adjusted EBITDA improved YoY to $(2.6) million. Cash balance at October 31, 2023, was $6.2 million. Updated full-year 2023 guidance reflects revenue timing shifts and adjusted EBITDA improvement.
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Clever Leaves Holdings Inc. will hold a conference call on November 9, 2023, to discuss its Q3 2023 financial results. The call will be hosted by Clever Leaves management and will include a question-and-answer session. The conference call will be broadcast live and available for replay. Toll-free and international dial-in numbers are provided.
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Clever Leaves regains compliance with Nasdaq minimum bid price requirement
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Clever Leaves awarded International Declaration of Carbon Neutrality for commitment to sustainability
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Clever Leaves approves 1-for-30 reverse split of common shares
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Clever Leaves reports 21% YoY revenue growth, driven by 151% YoY growth in cannabinoid revenue. Expense reductions lead to improved Adjusted EBITDA performance of ($2.1) million. Sale of Portuguese processing assets adds $2.7 million in cash. Reaffirms 2023 guidance: revenue $19-22M, adjusted gross margin 58-63%, adjusted EBITDA $(13.6)-(10.6)M.
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FAQ
What is the current stock price of CLEVER LEAVES HLDGS WTS (CLVRW)?
The current stock price of CLEVER LEAVES HLDGS WTS (CLVRW) is $0.025 as of July 18, 2024.
What makes Clever Leaves unique in the cannabis industry?
Clever Leaves is positioned to be the largest grower and extractor with a focus on pharmaceutical-grade facilities and low-cost operations.
What sets Clever Leaves apart from other Colombian license holders?
Clever Leaves stands out due to its strategic approach, strong regulatory relationships, and experienced team.
What are Clever Leaves' key capabilities in the medical cannabis industry?
Clever Leaves is developing key capabilities to win in the medical cannabis industry with its highly experienced team.
What is Clever Leaves' cultivation capacity by 2023?
Clever Leaves is set to have over 10 million square feet of cultivation capacity by 2023.
What is the status of Clever Leaves' production operations in Portugal?
Clever Leaves has ceased production operations in Portugal and is in the process of winding down these operations.
How can I contact Clever Leaves for press inquiries?
For press inquiries, you can contact Julian Wilches, Chief Regulatory Officer and Co-Founder, at +1-305-927-6642 or julian.wilches@cleverleaves.com.
When is the conference call for Clever Leaves' Third Quarter 2023 Summary?
The conference call will be held on Thursday, November 9, 2023, at 5:00 p.m. Eastern time.
Where can I find additional details about Clever Leaves' financial presentation?
You can refer to Clever Leaves' Form 10-Q for the fiscal period ended September 30, 2023, for additional details on the financial presentation.
What is the replay information for Clever Leaves' conference call?
The replay of the conference call will be available after 8:00 p.m. Eastern time on the same day through November 16, 2023, at 1-844-512-2921.
What is Clever Leaves' position in the global market?
Clever Leaves is positioned to become a leader in the global market due to its differentiated business model and strong regulatory relationships.
CLEVER LEAVES HLDGS WTS
Nasdaq:CLVRW
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1.73M
Drug Manufacturers - Specialty & Generic
Pharmaceutical Preparations
United States of America
TOCANCIPA - CUNDINAMARCA