Neptune Wellness Solutions Inc.
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  • Neptune Wellness (NEPT) announced its financial and operating results for the three-month and twelve-month periods ending March 31, 2022
  • Fiscal fourth quarter revenue totaled $11.5 million, an increase of 147 per cent compared to $4.7 million for the same period last year
  • Neptune is a diversified health and wellness company with a mission to redefine health and wellness
  • Neptune Wellness Solutions Inc. (NEPT) is down 1.11 per cent, trading at C$1.78 per share at 2:10 pm ET

Neptune Wellness (NEPT) has announced financial and operating results for the three-month and twelve-month periods ending March 31, 2022.

Q4 and full year financial highlights:

  • Fiscal fourth quarter revenue totaled $11.5 million, an increase of 147 per cent compared to $4.7 million for the same period last year
  • Fiscal year 2022 revenue totaled $48.8 million, an increase of 37.8 per cent compared to $35.4 million for the same period the year prior
  • Fourth quarter net loss of $36.2 million compared to a reported net loss of $43.5 million in the comparable period in 2021
  • Fiscal year 2022 net loss of $84.4 million compared to a net loss of $124.3 million for the fiscal year 2021
  • Adjusted EBITDA (non-GAAP) loss for fiscal year 2022 was $43.8 million compared to an Adjusted EBITDA (non-GAAP) loss of $39.4 million for the fiscal year 2021

Q4 business highlights:

  • Further reductions of corporate overheads by expanding in-house legal capabilities
  • Appointment of Julie Phillips as Chair of Neptune’s Board of Directors
  • Launched and expanded a first of its kind co-branded product line with “CoComelon”
  • Received a 180 calendar day extension from Nasdaq’s Listing Qualification Department to meet Nasdaq’s minimum bid requirement
  • Launched Forest Remedies Multi-Omega 3-6-9 Supplements in 340+ Sprouts Farmers Market stores across the U.S
  • Announced a US$8,000,000 Registered Direct Offering

Subsequent events and business updates:

  • Launched new CPG-focused strategic plan to profitability
  • Appointed Raymond Silcock as Chief Financial Officer
  • Appointed Philip Sanford as Audit Chair of Neptune’s Board of Directors
  • Launched new line of CoComelon co-branded organic snack bars
  • Announced completion of share consolidation from approximately 198 million Common Shares to approximately 5.7 million.
  • Announced a US$5,000,000 Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Neptune is a health and wellness company with a mission to redefine health and wellness. It focuses on building a portfolio of high-quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands.

Neptune Wellness Solutions Inc. (NEPT) is down 1.11 per cent, trading at C$1.78 per share at 2:10 pm ET.

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