The Valens Company Reports Financial Results for The Third Quarter of Fiscal 2021
Our innovative product launches have driven growth in provincial listings and we are only just beginning to see the resulting financial impact with provincial sales net revenue growing 20% quarter over quarter.
- Our innovative product launches have driven growth in provincial listings and we are only just beginning to see the resulting financial impact with provincial sales net revenue growing 20% quarter over quarter.
- More importantly, consumer demand for our products is very strong, leading to even greater growth in consumption-level retail sales for Valens products which were up 76.5% quarter over quarter.
- During the third quarter, we strategically transitioned away from smaller, underperforming B2B partners resulting in a 29% decrease in B2B LP sales revenue quarter over quarter.
- During the third quarter, Valens became authorized to contract or subcontract with a public body from the Autorit des marchs publics (AMP).