Red Light Holland Reports First Quarter 2025 Results
Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) reported strong financial results for Q1 2025. The company, focused on functional mushrooms and psilocybin truffles, saw a 29.7% year-over-year revenue increase to $1.6 million. Despite a slight decrease in gross profit percentage to 40.1%, gross profit dollars increased by 19.4%. The company maintained a robust cash balance of $14.13 million and reduced its cash burn by 26.5% to $562k.
CEO Todd Shapiro highlighted the company's strategic growth and strong cash management, setting Red Light Holland apart in the sector. The company plans to host a live Q&A in September 2024 to discuss its updated strategy and future plans, focusing on profitability and advocacy for responsible adult access to psilocybin.
Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) ha riportato risultati finanziari robusti per il primo trimestre del 2025. L'azienda, focalizzata su funghi funzionali e tartufi di psilocibina, ha registrato un aumento dei ricavi del 29,7% rispetto all'anno precedente, raggiungendo 1,6 milioni di dollari. Nonostante una leggera diminuzione della percentuale di profitto lordo al 40,1%, il profitto lordo in termini assoluti è aumentato del 19,4%. L'azienda ha mantenuto un solido saldo di cassa di 14,13 milioni di dollari e ha ridotto il suo consumo di cassa del 26,5%, portandolo a 562k dollari.
Il CEO Todd Shapiro ha evidenziato la crescita strategica dell'azienda e la forte gestione della liquidità, rendendo Red Light Holland un leader nel settore. L'azienda prevede di ospitare una sessione di domande e risposte dal vivo nel settembre 2024 per discutere la sua strategia aggiornata e i piani futuri, concentrandosi sulla redditività e sull'advocacy per un accesso responsabile degli adulti alla psilocibina.
Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) reportó resultados financieros sólidos para el primer trimestre de 2025. La compañía, enfocada en hongos funcionales y trufas de psilocibina, vio un aumento de ingresos del 29,7% interanual, alcanzando 1,6 millones de dólares. A pesar de una ligera disminución en el porcentaje de ganancia bruta al 40,1%, los dólares de ganancia bruta aumentaron en un 19,4%. La empresa mantuvo un saldo de efectivo robusto de 14,13 millones de dólares y redujo su consumo de efectivo en un 26,5%, llevándolo a 562k dólares.
El CEO Todd Shapiro destacó el crecimiento estratégico de la empresa y su sólida gestión de efectivo, lo que distingue a Red Light Holland en el sector. La compañía planea organizar una sesión de preguntas y respuestas en vivo en septiembre de 2024 para discutir su estrategia actualizada y sus planes futuros, centrándose en la rentabilidad y la defensa del acceso responsable de adultos a la psilocibina.
레드 라이트 홀랜드 코프. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF)는 2025년 1분기 강력한 재무 결과를 보고했습니다. 기능성 버섯과 실로시빈 트러플에 집중하는 이 회사는 전년 대비 29.7%의 수익 증가를 기록하며 160만 달러에 도달했습니다. 총 이익률이 40.1%로 약간 감소했음에도 불구하고 총 이익 달러는 19.4% 증가했습니다. 이 회사는 1,413만 달러의 강력한 현금 잔고를 유지하며 현금 소모를 26.5% 줄여 562k 달러로 감소시켰습니다.
CEO 토드 샤피로는 회사의 전략적 성장과 강력한 현금 관리가 레드 라이트 홀랜드를 이 분야에서 돋보이게 한다고 강조했습니다. 회사는 2024년 9월에 라이브 Q&A를 주최하여 업데이트된 전략과 향후 계획에 대해 논의할 계획이며, 수익성 및 성인들의 책임 있는 실로시빈 접근에 대한 옹호에 초점을 맞출 것입니다.
Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) a annoncé de solides résultats financiers pour le premier trimestre 2025. L'entreprise, axée sur les champignons fonctionnels et les truffes de psilocybine, a enregistré une augmentation des revenus de 29,7 % par rapport à l'année précédente, atteignant 1,6 million de dollars. Malgré une légère diminution du pourcentage de bénéfice brut à 40,1 %, le bénéfice brut en dollars a augmenté de 19,4 %. L'entreprise a maintenu un solde de trésorerie robuste de 14,13 millions de dollars et a réduit sa consommation de trésorerie de 26,5 % à 562k dollars.
Le PDG Todd Shapiro a souligné la croissance stratégique de l'entreprise et une gestion de trésorerie solide, faisant de Red Light Holland un acteur distinctif dans le secteur. L'entreprise prévoit d'organiser une séance de questions-réponses en direct en septembre 2024 pour discuter de sa stratégie mise à jour et de ses projets futurs, en mettant l'accent sur la rentabilité et la défense d'un accès responsable à la psilocybine pour les adultes.
Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) berichtete über starke Finanzresults für das 1. Quartal 2025. Das Unternehmen, das sich auf funktionale Pilze und Psilocybin-Trüffel konzentriert, verzeichnete einen Umsatzanstieg von 29,7% im Vergleich zum Vorjahr, was 1,6 Millionen Dollar entspricht. Trotz eines leichten Rückgangs der Bruttogewinnquote auf 40,1% stiegen die Bruttogewinne in Dollar um 19,4%. Das Unternehmen hielt eine robuste Barreserve von 14,13 Millionen Dollar und senkte seinen Cash-Verbrauch um 26,5% auf 562k Dollar.
CEO Todd Shapiro hob das strategische Wachstum des Unternehmens und das starke Cash-Management hervor, wodurch Red Light Holland im Sektor heraussticht. Das Unternehmen plant, im September 2024 eine Live-Q&A-Session abzuhalten, um über seine aktualisierte Strategie und zukünftige Pläne zu diskutieren, wobei der Schwerpunkt auf Rentabilität und der Befürwortung des verantwortungsvollen Zugangs von Erwachsenen zu Psilocybin liegt.
- Revenue increased by 29.7% year-over-year to $1.6 million
- Cash balance remained strong at $14.13 million
- Cash burn reduced by 26.5% to $562k
- Gross profit dollars increased by 19.4%
- Total assets valued at $24.0 million
- Gross profit percentage decreased from 43.5% to 40.1%
Key Highlights:
- Cash Balance:
$14.13 million as at June 30, 2024, including restricted cash (similar to cash balance position of$14.37 million as at March 31, 2024) - Revenue:
$1.6 million (up29.7% from$1.2 million in 2023) - Gross Profit:
40.1% (vs. 2023:43.5% , with a19.4% increase in gross profit dollars) - Cash Burn:
$562 k (vs. 2023:$765 k, down26.5% ) - Total Assets:
$24.0 million
Toronto, Ontario--(Newsfile Corp. - August 29, 2024) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) ("Red Light Holland" or the "Company"), an Ontario-based corporation engaged in the production, growth, and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, announces its financial and operational results for the three months ended June 30, 2024, the highlights of which are included in this news release. All figures are reported in Canadian dollars.
Todd Shapiro, CEO and Director of Red Light Holland, commented: "Our financial performance in the first quarter of 2025 reflects our strategic commitment to growth while maintaining strong cash management. We've increased revenues by
Key Achievements:
- Strategic Revenue Growth: Achieved approximately
30% revenue growth year-over-year, not including the latest impactful Costco Canada reorder/partnership with Happy Caps - Diversified Portfolio: Continued focus on expanding our brand recognition and overall retail distribution channels across Europe and North America, with current sales surpassing
$12.5 million since going public in 2020 - Prudent Cash Management: Significantly reduced the Company's cash burn, reinforcing our focus on financial stability and long-term profitability
Forward Outlook: Red Light Holland remains committed to focusing on a strategic path aimed at profitability and continued advocacy for responsible adult access and the 'right to try' psilocybin to help those in need. As we expand our product offerings and distribution, we are positioned to capitalize on emerging market opportunities while building long-term shareholder value as an "everything" mushroom company.
Upcoming Event: Todd Shapiro, CEO, and Jon Szczur, CFO, will host a live Q&A session in mid-to-late September 2024 to update shareholders on the Company's progress, recent strategy updates, and future plans.
The Company's full set of unaudited condensed interim consolidated financial statements for the three months ended June 30, 2024 and accompanying management's discussion and analysis can be accessed by visiting the Company's profile page on SEDAR+ at www.sedarplus.ca.
About Red Light Holland
The Company is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws.
For additional information:
Todd Shapiro
Chief Executive Officer and Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.RedLight.co
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to: the Company's strategic commitment to growth while maintaining strong cash management; the Company discussing their updated strategy at a future Q&A on the timelines indicated herein; the Company focusing on expanding brand recognition and overall retail distribution channels; the Company focusing on financial stability and long-term profitability; the Company focusing on continued advocacy for the legalization of, and adult access to, psilocybin; and the Company capitalizing on emerging market opportunities while building long-term shareholder value as an "everything" mushroom company.
Forward-Looking information in this news release are based on certain assumptions and expected future events, namely: continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the Company's ability to maintain its prudent cash use; the Company ability to explore potential mergers and acquisitions; the Company's ability to advance its research and development efforts; the Company's ability to maintain its strategic commitment to growth while maintaining strong cash management; the Company discussing their updated strategy at a future Q&A on the timelines indicated herein; the Company's continued focus on expanding brand recognition and overall retail distribution channels; the Company's continued focus on financial stability and long-term profitability; the Company's continued focus on advocacy for the legalization of, and adult access to, psilocybin; and the Company capitalizing on emerging market opportunities while building long-term shareholder value as an "everything" mushroom company.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, namely: the Company's inability to obtain continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the Company's inability to continue advocating for the legalization of, and adult access to, psilocybin; the Company's inability to increase its brand recognition and overall retail distribution channels; the Company's inability to focus on creating long term value for shareholders, including its inability to execute its overall strategy as an "everything" mushroom company; the Company's inability to capitalize on emerging market opportunities; the Company's inability to maintain its prudent cash use; the Company inability to explore potential mergers and acquisitions; the Company's inability to advance its research and development; the Company's inability to maintain its strategic commitment to growth while maintaining strong cash management; the Company not holding future Q&A and/or discussing an updated strategy on the timelines indicated herein or at all; and the Company no longer focusing on financial stability and/or long-term profitability.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221479
FAQ
What was Red Light Holland's revenue for Q1 2025?
How much cash does Red Light Holland (TRUFF) have as of June 30, 2024?
What was Red Light Holland's gross profit percentage in Q1 2025?
How did Red Light Holland's cash burn change in Q1 2025 compared to the previous year?
