Coho – Commissary Connect
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  • Coho Collective (COHO) released details on its audited annual financial results for the 15 months ending March 31, 2022
  • Quarterly revenues were $546,124 for the three-month period ended March 31, 2022, compared to $471,536 for the three-month period ended December 31, 2021, an improvement of $74,588
  • Revenues were $2,347,807 for the 15-month period ended March 31, 2022, compared to $1,057,956 for the 12-month period from January 1, 2020, to December 31, 2020
  • Coho Collective Kitchens Inc. (COHO) is trading steady at C$0.20 per share

Coho Collective (COHO) released details on its audited annual financial results for the 15 months ending March 31, 2022.

Quarterly revenues were $546,124 for the three months ended March 31, 2022, compared to $471,536 for the three months ended December 31, 2021, an improvement of $74,588.

Revenues were $2,347,807 for the 15-month period ended March 31, 2022, compared to $1,057,956 for the 12-month period from January 1, 2020, to December 31, 2020.

Commissary members grew to 100 members at the end of March 31, 2022 (up from 90 at the end of the fourth quarter of 2020), an increase of 11 per cent. The average revenue per member increased by 9 per cent (from $1,294 to $1,410) during this time.

The company signed six new lease agreements across Canada for facilities scheduled to open in 2022 / 2023. Two of these locations have already opened since March 2021 and another two are expected to open imminently.

Coho also acquired Phantom, a ghost kitchen brand focused on the high-end restaurant segment and has agreements to provide ghost kitchen services to the Toptable Group, owners of leading restaurants from Vancouver to New York.

Coho Collective’s CEO, Andrew Barnes, explained that the company’s membership satisfaction remains strong with less than a 5 per cent churn rate in 2021 and maintains a waitlist 400 per cent greater than the existing membership base, and has seen a growth of more than 10 per cent in the existing facilities.

“Due to the investment in new facilities, markets, and partnerships, we are confident to continue to develop a strong roadmap to achieve our goals. We are operating in a burgeoning growth industry and are poised to capture the opportunities that lay ahead.”

Coho is a commercial real estate and food technology company that provides private and shared kitchen and food production space to a variety of businesses.

Coho Collective Kitchens Inc. (COHO) is trading steady at C$0.20 per share.


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