Clever Leaves Holdings Inc Stock Price, News & Analysis

Clever Leaves Holdings reported Q3 2021 revenue of $4.0 million, a 3% increase from Q3 2020. Gross profit rose 22% to $2.5 million, with a gross margin of 62.9%. The expansion of its cultivation facility in Portugal was completed ahead of schedule, increasing operational capacity. However, net income was $1.0 million, up from a net loss of $(6.1) million last year, influenced by gains from warrant liabilities. The company revised its 2021 revenue outlook, now expecting $14 to $16 million, down from a prior range of $17 to $20 million.

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) will hold a conference call on November 10, 2021, at 5:00 p.m. Eastern time to discuss its third-quarter results for the period ending September 30, 2021. Financial results will be published in a press release before the call. The call includes a management discussion followed by a Q&A session. Interested participants should join 5-10 minutes early. A replay of the call will be available after 8:00 p.m. Eastern time on the same day through November 17, 2021.

Clever Leaves Holdings (NASDAQ: CLVR, CLVRW) announced a partnership with Pharmalab PHL Laboratories in Colombia to distribute pharmaceutical-grade cannabinoid formulations. This agreement follows new regulations permitting drugstores to sell medicinal cannabinoids. Clever Leaves, certified in Good Manufacturing Practices, aims to provide high-quality cannabinoid products to Colombian patients. Both companies emphasize the therapeutic potential of these products for inflammatory conditions. The partnership highlights Colombia's role as a leader in the Latin American cannabinoid market.

Clever Leaves Holdings (NASDAQ: CLVR, CLVRW) announced the successful export of 30 kg of high-THC cannabis flower from Portugal to Biopharmaceutical Research Company (BRC), a DEA-licensed firm in the U.S., marking a significant milestone in entering the U.S. cannabis market. This shipment, compliant with pharmaceutical standards, will support BRC’s projects in plant-based therapeutics. The companies have fostered a partnership through Project Change Lives, aimed at advancing medical cannabis research with a projected contribution of up to $25 million.

On October 4, 2021, Clever Leaves Holdings Inc. (Nasdaq: CLVR) announced its participation in several investor events in October. Key events include the A.G.P. Virtual Fall Consumer Cannabis Conference on October 5, the Lytham Partners Fall 2021 Investor Conference on October 7, and a panel at MJBizCon in Las Vegas on October 14, with in-person attendance from October 20-22. Additionally, Clever Leaves will present at the Benzinga Cannabis Capital Conference on October 15. The company focuses on sustainable large-scale cannabis cultivation and processing, with operations worldwide.

Clever Leaves Holdings (NASDAQ: CLVR) will present live on September 9, 2021, at 1:30 p.m. ET during a virtual conference hosted by VirtualInvestorConferences.com. CEO Kyle Detwiler will engage with investors in real-time, encouraging questions during the event. For those unable to attend live, an archived version will be available afterward. Investors are advised to pre-register and conduct a system check for a smoother experience. Clever Leaves recently highlighted various initiatives, including approval to export medical cannabis from Colombia and a pledge of $25M in medical cannabis to U.S. researchers.

Clever Leaves Holdings (Nasdaq:CLVR), a leading licensed producer of pharmaceutical-grade cannabinoids, will participate in several virtual investor conferences in September 2021. Key events include:

• Gateway Conference: September 8 at 1:00 p.m. ET
• KCSA Cannabis Conference: September 9 at 1:30 p.m. ET
• BTIG Cannabis Conference: September 29, Live webcast

For more details, contact the investor relations team at 1-949-574-3860.

Clever Leaves Holdings reported a remarkable 89% revenue increase to $3.7 million in Q2 2021, up from $1.9 million a year prior. Gross profit surged 157% to $2.3 million, achieving a 63.6% gross margin. Despite a net loss of $(9.0) million, the company has reaffirmed its FY2021 guidance. The launch of several global partnerships helped expand its distribution network, with a new $25 million financing enhancing liquidity. The Colombian government’s decree permitting medical cannabis flower exports is expected to significantly expand the market potential for Clever Leaves.

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) announces its collaboration with the University of Missouri’s pediatric neuroscience lab as part of its Project Change Lives Campaign. The initiative will provide up to $25 million in medical cannabis products to support research on CBD’s effectiveness for neurodevelopmental disorders, including autism and epilepsy. This partnership is expected to enhance the scientific understanding of cannabis-derived treatments.