Clever Leaves Reports Fourth Quarter and Full Year 2020 Results

– Q4 and Full Year 2020 Revenue Increases 28% and 55%, Respectively –

 

– Continued Growth in Commercial Partnerships and Global Distribution Network Provides Operational Momentum for 2021 –

 

NEW YORK, March 30, 2021 (GLOBE NEWSWIRE) — Clever Leaves Holdings Inc. (Nasdaq: CLVR) (“Clever Leaves” or the “Company”) today reported financial and operating results for the fourth quarter and full year ended December 31, 2020. All financial information is provided in US dollars unless otherwise indicated.

 

Fourth Quarter 2020 Highlights vs. Same Year-Ago Quarter

 

Revenue increased 28% to $3.3 million compared to $2.6 million.

All-in cost per gram of dry flower improved to $0.15 per gram compared to $0.22 per gram.

Gross profit increased 52% to $2.3 million compared to $1.5 million.

Net loss improved to $11.6 million compared to $18.3 million.

Adjusted EBITDA (a non-GAAP financial measure defined and reconciled below) improved to $(6.3) million compared to $(15.9) million.

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