Crescita Therape Stock Price, News & Analysis

Crescita Therapeutics (CRRTF) reported a record annual revenue of $23.5M for fiscal year 2022, a 40% increase from 2021. Adjusted EBITDA rose by 138% to $2.2M. In Q4 2022, revenue was $6.03M, a 20% decline from Q4 2021, primarily due to lower licensing revenues. However, gross profit for the year grew 32% to $13.18M despite a slight decrease in gross margin. Cash reserves fell to $8.23M from $11.33M. The company launched ART FILLER in Q1 2023, aiming to enhance its skincare portfolio. Management highlighted growth in the manufacturing segment and successful product launches.

Crescita Therapeutics reported remarkable financial results for Q3-F2022, with revenue increasing to $6.0M, up from $3.0M in Q3-F2021, driven by a significant boost in manufacturing revenue of $4.3M. The company's Adjusted EBITDA improved to $0.5M, marking a turnaround from a loss of $0.5M the previous year. Additionally, cash reserves stood at $10.7M. The President and CEO, Serge Verreault, highlighted the company’s continued growth with plans to launch ART FILLER® injectables in early 2023. The gross margin slightly declined to 48.7% from 51.0%.

Crescita Therapeutics Inc. (CRRTF) reported a significant 120% sales growth in Q2-F2022, with revenues reaching $6.5M, up from $2.9M in Q2-F2021. The company achieved a record manufacturing revenue of $3.9M and an Adjusted EBITDA of $0.6M, improving by $0.9M year-over-year. Despite repaying $1.0M in convertible debentures, cash balances at $10.5M decreased by $1.2M for the quarter. The approval of ART FILLER® injectables is set to enhance Crescita's portfolio, with plans for a Q4 2022 launch.

Crescita Therapeutics Inc. held its 2022 Annual General and Special Meeting in Laval, Quebec, where significant shareholder decisions took place. The election of directors showed strong support, with Daniel N. Chicoine receiving 96.9% of votes for his position. Ernst & Young LLP was reappointed as the external auditor with 99.7% approval. Additionally, Crescita's Shareholder Rights Plan was approved, garnering 97.5% of votes. The meeting emphasized the company's commitment to growth and innovation in the dermatology sector.

Crescita Therapeutics Inc. (CRRTF) reported Q1-F2022 revenue of $4,951K, a 52% increase from Q1-F2021. Manufacturing segment revenue reached a record $3,415K, significantly improving from $692K last year. Gross profit rose to $2,712K, though gross margin fell to 54.8%. Operating expenses increased to $3,088K driven by higher SG&A costs. Adjusted EBITDA decreased to $66K. Cash and cash equivalents improved to $11,742K. The company plans expansion into 35 new countries for Pliaglis and launched a new Obagi Medical product line in Canada, enhancing its portfolio.

Crescita Therapeutics Inc. (TSX: CTX, OTC US: CRRTF) announced CEO Serge Verreault will present at the 2022 Bloom Burton & Co. Healthcare Investor Conference on May 3, 2022, at 10:30 a.m. in Hall A at the Metro Toronto Convention Centre. The conference, occurring on May 2-3, features around 60 leading healthcare companies from Canada. Verreault will outline Crescita’s recent business highlights and growth strategy, with the management team available for one-on-one investor meetings. For more details, visit bloomburton.com/conference.

Crescita Therapeutics reported record Q4 and fiscal 2021 revenues of $5.3M, tripling revenue compared to fiscal 2020. Total revenue for 2021 reached $16.8M, up 7.2% year-over-year, despite a drop in gross profit to $10M. The company expanded Pliaglis licenses to 32 countries and maintained a robust liquidity position of $11.3M. Q4 adjusted EBITDA improved to $1.6M from a loss of $0.4M last year. Crescita aims to grow its market presence amid favorable consumer trends and digital marketing investments.