Now might be a good time to put some spare investment money into the company’s stock
In spite of all the difficult conditions for the cannabis industry in the present year, companies like Valens GroWorks Corp. are reporting better numbers every time. Valens is dedicated to the extraction industry, with its next-generation delivery formats, and even an analytical lab accredited with ISO 17025. The company has announced the numbers for the fourth quarter revenue guidance and also the intention of starting an NCIB (normal-course issuer bid) to purchase and cancel 6,275,204 of its common shares.
For the revenue guidance in the recently completed fourth quarter of this year, a range between $27 million to $30 million was reported, with an important increase in revenue, compared to the third quarter numbers for $16.5 million. As reported, a total of 24,400 kilograms of cannabis and hemp biomass were extracted during Q4, which is in line with what was processed during Q3. Now Valens expects to see a solid return of investment coming from the rapid volume growth with help of its large facilities and the huge amount of biomass that is brought from the field to meet the needs of a fast-growing market.
“I couldn’t be more thrilled to share revenue guidance for Valens’ fourth quarter, which I believe is only starting to show the power of our platform. The reason we have built five different types of extraction in house is so that we can facilitate being a [one-stop] shop for our customers by having the means to produce a large variety of [next-generation] white label products,” says Tyler Robson, CEO of Valens. He adds, “This quarter shows the flexibility of our operations and represents an inflection point in our acceleration into ‘Cannabis 2.0’ oil-based products. Through the incredible demand we are seeing, we expect white label sales to continue to ramp up as we increase the number of white label contracts and volume of the contracts themselves.”