Digipath, Inc. Announces Record Results for the Fiscal Year Ended September 30, 2017

LAS VEGAS, Jan. 2, 2018

2017 Company Highlights

• Ended fiscal year debt free with $380,189 of working capital, including $178,177 of cash on hand
• Annual sales were $1,898,172, an increase of 132% on a year-over-year basis
• Fourth quarter sales of $602,057 increased by 74% over the third quarter, and by 93% vs. the fourth quarter of 2016, as Nevada recreational cannabis sales commenced in July 2017, resulting in another record quarter
• Reduced our net loss by 71% over the comparative net loss in 2016
• Adjusted EBITDA for the year was $(375,377), compared to Adjusted EBITDA of $(949,946) for the previous fiscal year, an improvement of approximately 60% on a year-over-year basis

The table below shows the preliminary results and key metrics:

	Quarterly Data								Quarterly Data
	FYE September 30, 2016 ARIVA.DE Börsen-Geflüster Kurse DigiPath -   0,00%								FYE September 30, 2017
	Q1		Q2		Q3		Q4		Q1		Q2		Q3		Q4
	2016		2016		2016		2016		2017		2017		2017		2017
Revenues (Thousands)	$      102		$      141		$      264		$      311		$      410		$      497		$      389		$      602
Lab Revenue Growth (%YOY)	-		-		-		-		301.2%		252.2%		47.4%		93.5%
Gross Profit Margins (%)	31.5%		39.5%		61.1%		60.8%		50.2%		55.5%		44.6%		56.3%
Quick Ratio (%)	175.9%		171.8%		166.9%		110.3%		142.8%		523.4%		159.2%		271.2%

Management Comment

Todd Denkin, Digipath's President & COO, commented, "We are extremely pleased with our results for fiscal 2017 and look forward to a full year of testing for both medical and recreational cannabis products in 2018. It is also rewarding to see our progress reflected in our recent stock price. Over $126 million of cannabis-related products have been sold in Nevada since adult use went into effect on July 1, 2017. People don't realize that Nevada had more sales than Colorado experienced in their first four months of adult-use cannabis. We anticipate a continued significant increase in demand for cannabis lab testing services in 2018. In addition, with recreational cannabis now legal in California, we continue to work with our previously announced joint venture partner to launch an independent testing lab in California during 2018 as we seek to replicate our successful Nevada operations in other legal jurisdictions."

Adjusted EBITDA

We define Adjusted EBITDA as net earnings (loss) before (i) other income (expense), (ii) interest income, (iii) interest expense, (iv) bad debts, (v) depreciation and amortization, (vi) impairment of securities available-for-sale costs, (vii) non-cash expenses relating to share based payments recognized under ASC Topic 718, (viii) gain on early extinguishment of debt, and (ix) equity in losses of unconsolidated entity. We believe the use of this non-GAAP financial measure provides useful information to investors regarding our current financial performance; however, Adjusted EBITDA does not represent, and should not be considered an alternative to GAAP measurements. Specifically, we believe Adjusted EBITDA results provide useful information to both management and investors by excluding certain income and expenses that our management believes are not indicative of our core operating results, we believe that non-GAAP financial measures have limitations and do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP and that Adjusted EBITDA should only be used to evaluate our results of operations in conjunction with the corresponding GAAP financial measures. A reconciliation of Adjusted EBITDA to net loss is included below:

DIGIPATH, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED EBITDA TO NET LOSS
(Unaudited)
		For the Years Ended
		September 30,
		2017		2016
Net loss		$    (1,065,140)		$    (3,699,019)
Add back:
Other income		(282,068)		(154,000)
Interest income		(10,000)		(10,000)
Bad debts expense		42,180		274,375
Depreciation and amortization		253,535		244,580
Stock based compensation		636,116		1,413,569
Loss on impairment of securities available-for-sale		50,000		-
Gain on early extinguishment of debt		-		(12,133) Werbung Mehr Nachrichten zur DigiPath Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 25.04.24 - PR Newswire Premier Miton Global Renewables Trust Plc - Result of AGM 25.04.24 - PR Newswire Fidelity Japan Trust Plc - Transaction in Own Shares Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59