Tuesday, May 03, 2022
GABY (GABLF)
Full Year 2021 Results; Revising Estimates
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind is a well-known, and highly respected dispensary with deep roots in the California cannabis community operating in San Diego, California. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Lulu’s™ and Kind Republic™ through Mankind, manufactures Kind Republic, and distributes all its proprietary brands through its wholly owned subsidiary, GABY Manufacturing. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation, and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4Q21 Results. GABY reported fourth quarter revenue of $8.2 million, up from $1.0 million reported last year, driven by the acquisition of Mankind. We had estimated revenue of $8 million. Gross margin for the quarter improved to 47% compared to our 45% projection. GABY recorded adjusted EBITDA of $0.86 million in the quarter. Net loss for the quarter totaled $3.86 million, or $0.00 per share, versus a net loss of $6.66 million, or $0.03 per share, in the same period in 2020.
FY21. For the full year, GABY generated revenue of $32.4 million, up from $4.1 million in 2020. Full year gross margin was 36.4%. Adjusted EBITDA for the year was $1.44 million versus negative $6.72 million last year. Full year net loss totaled $12.2 million, or $0.02 per share, compared to a net loss of $13.99 million, or $0.06 per share, in 2020….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
