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Clever Leaves Holdings Inc. (CLVR) Stock Surged 8.03% Today, Here’s Why

Clever Leaves Holdings Inc. (CLVR) stock soared 8.03% in the current-market trading session at the price of $2.69 despite no fundamental reason. The last reported news was its financial results for Q4 and the full year 2021.

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CLVR is a licensed producer and global operator of pharmaceutical-based cannabinoids. The company produces cannabinoid API and preserves the final products in extract form for its emerging B2B consumer base.

CLVR Q4 2021 Earnings Report

On 24th March 2022, CLVR reported its financial and operational results for the quarter and year ended 31st December 2021. Revenues totaled US$4.2M for Q4 of 2021, representing a surge of 25 percent from US$3.3M in Q4 of 2020. The company earned a gross profit of US$(0.3) M during the quarter. Gross profit totaled US$2.3M for Q4 of last year.

For Q4 of 2021, CLVR has a gross margin of (6.9) percent. The gross margin was 67.9 percent for Q4 of the prior year. For Q4 of 2021, net loss totaled US$24.0M compared to US$0.9M for Q4 of 2020. The company has US$(7.8) M in adjusted EBITDA for Q4 of 2021. Adjusted EBITDA was US$(6.3) M for last year’s same quarter.

CLVR Year 2021 Summary

CLVR calculated revenues of US$15.4M for the year 2021. It represents a growth of 27 percent from US$12.1M last year. For 2021, the company has a gross margin of 44.3 percent. The gross margin was 61.2 percent for the year ended 31st December 2020.

CLVR ended 2021 with US$37.7M in cash and cash equivalents. Gross profit totaled US$6.8M for the year 2021, compared to US$7.4M prior year. Adjusted EBITDA was US$(24.9) M in 2021 compared to US$(23.3) M last year.

2022 Financial Outlook

For the year 2022, CLVR anticipates revenue to range from US$20M to US$25M. The gross margin has expected to be between 50 percent and 55 percent. The company expects its adjusted EBITDA to be from US$(23) M to US$(20) M for 2022.

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