![]() ![]() "Stem either needs to get bigger, which would require additional capital, or sell to a larger entity," Gomes commented. "The company has an attractive position in the Oregon market and a solid performer in its California location," wrote Gomes.Īt this time, it's unknown what Stem will do with its other holdings and how it will stack up against the growing number of multi-site operators as time passes. The analyst pointed out that going forward, Stem intends to continue working toward getting the company to where it solely focuses on its operations in two West Coast states. During Q1 FY22, Stem gained $1.7M from the change in the fair value of its warrant liability but this was offset by a $1.75M loss from discontinued operations and $795,000 worth of non-cash impairment charges.Īccordingly, Gomes relayed, Stem ended Q1 FY22 with $3.3M of cash and $1.3M of working capital but, also, about $5M in debt, $2.9M of it current and $2.1M of it long term. Stem's net loss in Q1 FY22 was $4.1M versus $3.2M a year earlier. This resulted from dampened sales driven by general market conditions, specifically "post COVID highs," wrote Gomes.Īs for cash the cannabis products company used for operations, it amounted to $2.3M, up from $875,000 last year. 31, 2021, along with the year-over-year figures.Īs for Stem's revenue, it came in at $4.2 million ($4.2M), down from $5.3M last year. He presented the numbers for Q1 FY22, ended Dec. In comparing the two quarters, Stem generated less revenue, spent more cash on operations and posted a greater net loss in FY22 than in FY21, Gomes noted. (STEM:CSE STMH:OTCQX) experienced a worse first quarter of fiscal year 2022 (FY22) than of FY21, reported Joe Gomes, a Noble Capital Markets analyst, in a Feb.
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