Overview

* C21 Investments ( CXXIF ) Q1 revenue grows 30% yr/yr, driven by same-store sales growth

* Adjusted EBITDA for Q1 up 244% yr/yr, reflecting improved retail sales

* Co repurchased 184,500 shares for cancellation during the quarter

Outlook

* Company plans to refile amended U.S. federal income tax returns

* C21 Investments ( CXXIF ) committed to long-term sustainable growth

* Company challenges tax liability under Section 280E of the Internal Revenue Code

Result Drivers

* SAME-STORE SALES - Revenue growth driven by same-store sales increases across dispensaries

* RETAIL TRANSACTION GROWTH - 45% increase in retail transactions from Q1 last year

* GROSS MARGIN IMPACT - Gross margin affected by seasonality and increased wholesale activity

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 $8.60

Revenue mln

Q1 EPS -$0.01

Q1 Gross 35.0%

Margin

Q1 $900,000

Operatin

g Cash

Flow

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)