Delota Reports Annual Audited Results for the Fourteen Months Ended March 31, 2025
Delota Corp. (CSE: NIC) has reported its annual audited results for the fourteen months ended March 31, 2025, showing strong financial performance. The company achieved total revenue of $46.5 million with a 38% gross profit margin and positive Adjusted EBITDA of $1.2 million.
The company's revenue breakdown includes Vape B2C ($36.4M), B2B ($6.0M), and Cannabis B2C ($4.1M). Notable achievements include expanding their customer base to over 300,000 registered accounts, early redemption of $900,000 in convertible debentures, and securing a licensing agreement for Eastern Canada expansion. The company also grew its retail footprint to 32 locations.
Delota Corp. (CSE: NIC) ha comunicato i risultati annuali certificati per i quattordici mesi conclusi al 31 marzo 2025, evidenziando una solida performance finanziaria. L'azienda ha raggiunto un fatturato totale di 46,5 milioni di dollari con un margine lordo del 38% e un EBITDA rettificato positivo di 1,2 milioni di dollari.
La ripartizione del fatturato comprende Vape B2C (36,4 milioni di dollari), B2B (6,0 milioni di dollari) e Cannabis B2C (4,1 milioni di dollari). Tra i risultati più rilevanti si segnalano l'espansione della base clienti a oltre 300.000 account registrati, il riscatto anticipato di 900.000 dollari in obbligazioni convertibili e la stipula di un accordo di licenza per l'espansione nel Canada orientale. L'azienda ha inoltre ampliato la propria rete retail a 32 punti vendita.
Delota Corp. (CSE: NIC) ha informado sus resultados anuales auditados para los catorce meses finalizados el 31 de marzo de 2025, mostrando un sólido desempeño financiero. La compañía alcanzó un ingreso total de 46.5 millones de dólares con un margen bruto del 38% y un EBITDA ajustado positivo de 1.2 millones de dólares.
La distribución de ingresos incluye Vape B2C (36.4 millones de dólares), B2B (6.0 millones de dólares) y Cannabis B2C (4.1 millones de dólares). Logros destacados incluyen la expansión de su base de clientes a más de 300,000 cuentas registradas, el canje anticipado de 900,000 dólares en bonos convertibles y la obtención de un acuerdo de licencia para la expansión en el este de Canadá. La compañía también aumentó su presencia minorista a 32 ubicaciones.
Delota Corp. (CSE: NIC)는 2025년 3월 31일 종료된 14개월간의 연간 감사 결과를 발표하며 강력한 재무 성과를 보였습니다. 회사는 총 매출 4,650만 달러와 38%의 총이익률, 그리고 1,200,000달러의 긍정적인 조정 EBITDA를 달성했습니다.
매출 구성은 Vape B2C (3,640만 달러), B2B (600만 달러), Cannabis B2C (410만 달러)로 이루어져 있습니다. 주요 성과로는 30만 개 이상의 등록 계정으로 고객 기반 확장, 90만 달러의 전환사채 조기 상환, 동부 캐나다 확장을 위한 라이선스 계약 확보가 포함됩니다. 또한, 소매 매장 수를 32개로 늘렸습니다.
Delota Corp. (CSE : NIC) a publié ses résultats annuels audités pour les quatorze mois se terminant le 31 mars 2025, affichant une solide performance financière. La société a réalisé un chiffre d'affaires total de 46,5 millions de dollars avec une marge brute de 38% et un EBITDA ajusté positif de 1,2 million de dollars.
La répartition du chiffre d'affaires comprend Vape B2C (36,4 M$), B2B (6,0 M$) et Cannabis B2C (4,1 M$). Parmi les réalisations notables figurent l'expansion de leur base client à plus de 300 000 comptes enregistrés, le remboursement anticipé de 900 000 dollars de débentures convertibles, ainsi que la signature d'un accord de licence pour l'expansion dans l'Est du Canada. L'entreprise a également étendu son réseau de points de vente à 32 magasins.
Delota Corp. (CSE: NIC) hat seine geprüften Jahresergebnisse für die vierzehn Monate bis zum 31. März 2025 veröffentlicht und dabei eine starke finanzielle Leistung gezeigt. Das Unternehmen erzielte einen Gesamtumsatz von 46,5 Millionen US-Dollar mit einer Bruttomarge von 38% und einem positiven bereinigten EBITDA von 1,2 Millionen US-Dollar.
Die Umsatzaufteilung umfasst Vape B2C (36,4 Mio. USD), B2B (6,0 Mio. USD) und Cannabis B2C (4,1 Mio. USD). Bemerkenswerte Erfolge sind die Erweiterung der Kundenbasis auf über 300.000 registrierte Konten, die vorzeitige Rückzahlung von 900.000 US-Dollar an wandelbaren Schuldverschreibungen sowie der Abschluss einer Lizenzvereinbarung für die Expansion nach Ostkanada. Zudem wurde die Einzelhandelspräsenz auf 32 Standorte ausgebaut.
- Revenue increased to $46.5M for the fourteen-month period
- Achieved positive Adjusted EBITDA of $1.2M, up from $235.5K in previous period
- Net income of $698.8K compared to previous period loss of $1.9M
- Strong 38% gross profit margin maintained
- Customer base expanded to over 300,000 registered accounts
- Successfully completed early redemption of $900K convertible debentures
- Secured licensing agreement for Eastern Canada expansion
- Working capital deficit of $802.2K, slightly worse than previous $771.1K deficit
- Total liabilities increased to $13.9M from $13.3M
- Stock-based compensation decreased significantly to $11.8K from $218.9K
Highlights:
Total revenue of
$46.5 million for the Fourteen Months Ended 202538% gross profit margin for the Fourteen Months Ended 2025Positive Adjusted EBITDA of
$1.2 million for the Fourteen Months Ended 2025
Segmented revenue for the Fourteen Months Ended 2025:
Vape - B2C:
$36.4 million , B2B:$6.0 million Cannabis - B2C:
$4.1 million
Completed the early redemption of senior secured convertible debentures in the amount of
$900,000 plus accrued interestIncreased customer base to over 300,000 registered accounts across online and brick-and-mortar platforms
Vaughan, Ontario--(Newsfile Corp. - July 30, 2025) - Delota Corp. (CSE: NIC) (FSE: S62) ("Delota" or the "Company"), a leading Canadian omni-channel retailer of nicotine vape and alternative tobacco products, is pleased to report it has filed its annual audited consolidated financial statements, management discussion and analysis, and associated certifications (collectively, the "Annual Filings") for the fourteen months ended March 31, 2025. This was a result of the change of year-end from January 31st to March 31st as announced on January 22, 2025. The Annual Filings and details related to the change of year-end may be accessed under the Company's SEDAR+ profile at www.sedarplus.ca.
Cameron Wickham, CEO of Delota, commented, "We are pleased to report another year of robust performance for Delota, marked by significant achievements across our operations. Starting with our financial results, our fourteen-month results have pushed revenue to
Financial Highlights:
Total revenue of
$46,564,733 for the fourteen months ended March 31, 2025 ("Fourteen Months Ended 2025")38% gross profit margin for the Fourteen Months Ended 2025Positive Adjusted EBITDA of
$1,198,383 for the Fourteen Months Ended 2025
Segmented revenue for the Fourteen Months Ended 2025:
Vape - B2C:
$36.4 million , B2B:$6.0 million Cannabis - B2C:
$4.1 million
Other Highlights:
On July 15, 2025, the Company changed its auditor to Horizon Assurance LLP.
On July 7, 2025, the Company announced it had entered into agreements with 180 Global relating to the licensing of the 180 Smoke Vape Store brand for retail online sales in Eastern Canada. 180 Global assumed operational functions in Eastern Canada as a result of the retail partnership in exchange for certain service fees and a royalty fee payable to the Company.
On April 22, 2025, the Company completed the early redemption of senior secured convertible debentures in the amount of
$900,000 plus accrued interest and the security interests and obligations of the Company and its guarantors have been discharged and all pledged securities have been returned to the Company.On February 3, 2025, the Company opened a 180 Smoke Vape Store located at 1530 Albion Road, Unit 51A, Albion Mall, Etobicoke, expanding its retail footprint to 32 locations.
On January 22, 2025, the Company announced a change to its fiscal year end from January 31st to March 31st.
On August 26, 2024, the Company opened a 180 Smoke Vape Store located at 499 Main Street South, Unit 60D, Shoppers World, Brampton.
On July 25, 2024, the Company opened a 180 Smoke Vape Store located at 70 Joseph Street, Parry Sound.
Select Financial Information
The following selected financial information for the fourteen months ended March 31, 2025 and the twelve months ended January 31, 2024 are derived from the Company's annual audited consolidated financial statements for the fourteen months ended March 31, 2025 and the annual audited consolidated financial statements for the year ended January 31, 2024.
| Fourteen Months Ended March 31, 2025 | Twelve Months Ended January 31, 2024 | |||||
| $ | $ | |||||
| Revenue | 46,564,733 | 34,069,680 | ||||
| Net income (loss) for the period | 698,876 | (1,992,576 | ) | |||
| Net earnings (loss) per share - basic and diluted | 0.02 | (0.07 | ) | |||
| Working capital (deficit) | (802,292 | ) | (771,198 | ) | ||
| Total assets | 15,244,565 | 13,735,729 | ||||
| Total non-current liabilities | 5,232,369 | 6,565,672 | ||||
| Total liabilities | 13,900,704 | 13,351,331 | ||||
| Share capital | 7,832,560 | 7,592,481 | ||||
| Warrant reserve | 99,398 | 99,398 | ||||
| Contributed surplus | 507,513 | 507,005 | ||||
| Accumulated deficit | (7,115,610 | ) | (7,814,486 | ) | ||
| Shareholders' equity | 1,323,861 | 384,398 |
Adjusted EBITDA
The Company's "Adjusted EBITDA" is a non-IFRS metric used by management that does not have any standardized meaning prescribed by IFRS and may not be fully comparable to similar measures presented by other companies. Management defines Adjusted EBITDA as the net income (loss) reported, before income taxes and other expense (income) items such as finance costs, finance income, gains and losses related to derivative liability valuations, and adjusted for share-based compensation, depreciation and amortization expenses, gains and losses related to the revaluations of its right-of-use assets and lease liabilities and foreign exchange differences.
The reconciliation of net income (loss) to Adjusted EBITDA is presented below.
| Fourteen Months Ended March 31, 2025 | Twelve Months Ended January 31, 2024 | |||||
| $ | $ | |||||
| Net income (loss) for the period - as reported | 698,876 | (1,992,576 | ) | |||
| Depreciation and amortization | 603,958 | 575,431 | ||||
| Interest and accretion expenses | 955,635 | 330,492 | ||||
| Stock-based compensation | 11,837 | 218,981 | ||||
| Fair value adjustment of derivative liabilities | (990,629 | ) | 566,212 | |||
| Deferred tax recovery | (74,405 | ) | (63,777 | ) | ||
| Lease adjustments | (35,583 | ) | 567,395 | |||
| Foreign exchange loss | 28,694 | 33,394 | ||||
| Adjusted EBITDA | 1,198,383 | 235,552 |
About Delota Corp.
Delota is the largest omni-channel specialty vape retailer in Ontario with a mission of becoming one of the largest national specialty retailers of nicotine vape and alternative tobacco products. The Company's growth strategy includes aggressively growing its flagship brand, 180 Smoke Vape Store, by expanding its retail footprint organically in Ontario and select provinces across Canada, strengthening its national e-commerce platform, and through strategic M&A to accelerate growth and market consolidation. The Company is committed to expanding its nicotine product assortment, enhancing customer experience, and growing its registered customer base, which now exceeds 300,000 accounts.
Investors interested in learning more about Delota can visit www.delota.com.
For further information, please contact:
Delota Corp.
Cameron Wickham
Executive Vice Chair and CEO
T: (905) 330-1602
E: info@delota.com
Cautionary Statements
This press release contains "forward-looking statements or information". Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include statements made regarding information about future plans, expectations and objectives of the Company overall.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the adequacy of our cash flow and earnings, the availability of future financing and/or credit, developments and changes in laws and regulations, consumer sentiment towards the Company's products, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology and social changes on the products and industry, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260635
FAQ
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