Canadian cannabis firm Valens GroWorks reports profitable third quarter

British Columbia-based Valens GroWorks reported third-quarter net income of 5.9 million Canadian dollars ($4.4 million) on revenue of CA$16.5 million.

The vertically integrated cannabis company’s revenue rose 87% over the previous quarter’s CA$8.8 million.

Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter were CA$9.8 million, compared with CA$2 million in the previous quarter.

Valens trades on the TSX Venture Exchange under the ticker symbol VGW.

For more on Valens’ earnings, click here.

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