The Green Organic (CSE:TGOD) rising on Q3 results. Buy call?

2 min read | November 25, 2021 10:02 AM EST | By Raza Naqvi

The Green Organic (CSE:TGOD) rising on Q3 results. Buy call? — Image source: © Kiankhoon | Megapixl.com

The Green Organic's Q3 results: Key highlights

The cannabis producer's gross revenues were C$ 9.242 million, representing an increase of 140 per cent year-over-year (YoY). Meanwhile, the gross revenues increased by C$ 0.164 million in comparison to the second quarter of this year.

The Green Organic's Q3 general and administrative expenses were C$ 6.4 million, excluding a non-cash loss of C$ 1.6 million. In addition, the cannabis producer narrowed down the net loss from continuing operations to C$ 13.9 million in comparison to C$ 75.4 million in the third quarter of 2020.

The net loss from continuing operations in Q3 2021 also represented an improvement of C$ 18.6 million of losses in comparison to Q2 2021.

Bottom line

According to a Grand View Research report, the global cannabis market is expected to grow rapidly between 2021 to 2028. During the forecast period, the marijuana industry will likely expand at a compound annual growth rate of 26.7 per cent.

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