Neptune Wellness Solutions Inc. (NEPT) is a leading differentiated health and wellness company engaged in redefining health and wellness. The company is building a high-quality and affordable portfolio of consumer products using natural, organic, and plant-based ingredients. The manufacturing and supply chain infrastructure of the company is flexible and cost-efficient.
The price of NEPT stock during early trading on February 16, 2022, was last checked to be $0.27 with a gain of 2.7%.
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NEPT: Events and Happenings
On February 16, 2022, NEPT’s subsidiary Sprout launched a co-branded product range along with CoComelon. The collaboration featured kids’ favorite characters including J.J., YoYo, and TomTom. The company will bring fun to mealtime with a selection of veggie-packed purees and healthy snacks made with organic ingredients.
NEPT: Key Financials
On February 10, 2022, NEPT released its financial results for the three months ended December 31, 2021. Some of the key highlights are stated below.
Revenue
Total revenue recorded in Q3 2022 C$18.4 million compared to C$3.32 million in the same quarter of 2021. The company observed a sequential increase of 17%. The company beat the analysts’ estimated revenue.
EPS
Basic and diluted net loss per share in Q3 2022 was C$20.9 million or C$0.11 compared to C$74.9 million or C$0.59 in the same period of 2021. The company observed a decrease in net loss over the yearly period. The company missed the analysts’ estimated EPS target.
On December 20, 2021, NEPT launched Mood Ring’s cannabis pre-roll products in different North American provinces. On November 23, 2021, NEPT reported about relaunching of the website by its subsidiary Sprout Foods, Inc. The website provided a direct purchase line with customers digitally.
On November 15, 2021, NEPT was informed about the approval of a comprehensive action plan by the company’s BoDs regarding unlocking the stockholder value. On November 11, 2021, NEPT announced its Executive management’s participation at the following investor conferences.
- Jefferies Virtual West Coast Consumer Conference on November 17, and
- Cowen’s 4th Annual Cannabis Conference on November 29 – December 1, 2021.
Conclusion
NEPT stock is 54% down the past six months primarily due to pandemic affected economy. The current gain in early trading by the company is due to the launch of a co-branded product line by the company’s subsidiary. For the upcoming quarter, the company expects revenue of US$14.4 million against EPS of -US$0.06.
