Clever Leaves Holdings Inc

NASDAQ:CLVRUnited States

Apr 1, 2024

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• -- Earnings Flash (CLVR) CLEVER LEAVES Reports Q4 Revenue $4.6M, from 4:02PM ET on Monday Apr 01, 2024 by MT Newswires

  4:02PM ET on Monday Apr 01, 2024 by MT Newswires
  Companies Mentioned: CLVR
  04:02 PM EDT, 04/01/2024 (MT Newswires) -- ...

• Clever Leaves Reports Fourth Quarter and Full Year 2023 Results, from 4:01PM ET on Monday Apr 01, 2024 by Dow Jones

  4:01PM ET on Monday Apr 01, 2024 by Dow Jones
  Companies Mentioned: CLVR
  revenue (1,052) - (Decrease) in accrued and other non-current liabilities (101) (248) --- ---------------- --------------- Net cash used in operating activities (11,508) (29,066) Cash Flow from Investing Activities: Proceeds from sale of assets 2,862 - Purchase of property, plant and equipment (31) (1,306) Proceeds from sale of investments 1,863 2,498 --- ---------------- --------------- Net cash provided by investing activities 4,694 1,192 Cash Flow From Financing Activities: Repayment of debt (484) (23,131) Other borrowings - 73 Proceeds from issuance of shares 1,339 27,686 Equity issuance costs (199) (1,361) Stock option exercise - 22 Net cash provided by financing activities $ 656 $ 3,289 Effect of exchange rate changes on cash, cash equivalents & restricted cash 171 (226) Decrease in cash, cash equivalents & restricted cash $ (5,987) $ (24,811) Cash, cash equivalents & restricted cash, beginning of period 12,888 37,699 Cash, cash equivalents & restricted cash, end of period $ 6,901 $ 12,888 === ================ =============== CLEVER LEAVES HOLDINGS INC. Adjusted EBITDA Reconciliation (Non-GAAP Measure) (Amounts in thousands of U.S. Dollars) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, -------------------- ------------------------ 2023 2022 2023 2022 Net Loss (5,085) (28,816) (17,899) (66,165) Loss (Income) from discontinued operations (30) 21,172 (1,898) 28,361 Gain on remeasurement of warrant liability (108) (83) (113) (2,092) Share-based compensation (136) (263) 818 2,343 Restructuring expenses - 2,688 - 6,449 Depreciation and amortization 441 534 2,374 2,856 Interest expense and amortization of debt issuance costs 23 (24) 46 2,672 Foreign exchange loss (gain) 137 (181) 433 963 Loss/(gain) on investments 33 - 3,738 (6,851) Intangible Asset Impairment - - - 19,000 Deferred Tax recovery - - - (6,650) Loss on debt extinguishment, net - - - 2,263 Equity investment share of loss - - - 64 Other expense, net 50 109 31 220 Income tax provision 68 296 68 296 Adjusted EBITDA (Non-GAAP Measure) (4,607) (4,568) (12,402) (16,271) ====== ======= ======= ======= CLEVER LEAVES HOLDINGS INC. Adjusted Gross Profit Reconciliation (Non-GAAP Measure) (Amounts in thousands of U.S. Dollars) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, ------------------------ ------------------------- 2023 2022 2023 2022 Revenue $ 4,638 $ 4,402 $17,417 $16,410 Cost of sales, before inventory provision (4,216) (2,643) (9,502) (7,175) Inventory provision (768) (915) (1,359) (2,018) Gross (loss) profit $ (346) $ 844 $ 6,556 $ 7,217 Inventory provision (768) (915) (1,359) (2,018) Adjusted Gross Profit (Non-GAAP Measure) $ 422 $ 1,759 $ 7,915 $ 9,235 Gross Profit Margin (%) -7.5% 19.2% 37.6% 44.0% Adjusted Gross Profit Margin (Non-GAAP Measure) (%) 9.1% 40.0% 45.4% 56.3%
  

• Press Release: Clever Leaves Reports Fourth Quarter and Full Year 2023 Results, from 4:01PM ET on Monday Apr 01, 2024 by Dow Jones

  4:01PM ET on Monday Apr 01, 2024 by Dow Jones
  Companies Mentioned: CLVR