Adastra Holdings Ltd. (XTXXF)
Adastra Holdings Ltd. functions as a company specializing in cannabis extraction and processing. It offers services such as analytical testing for cannabis and comprehensive processing solutions. The firm supports authorized cannabis and hemp growers with its processing expertise and supplies concentrated cannabis derivatives to qualified business-to-business clients both domestically in Canada and worldwide. The company, which was established in 1987 and is headquartered in Langley, Canada, was formerly known as Phyto Extractions Inc. until it rebranded as Adastra Holdings Ltd. in September 2021.
Sector: Pharmaceutical Preparations
Industry: Drug Manufacturers - Specialty & Generic
Adastra Holdings Ltd.
OTC:XTXXFHealthcare · Drug Manufacturers - Specialty & Generic
Mkt Cap-
Float5.53M
O/S-
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$17.71M
Net Income-$9.43M
Total Assets$13.79M
Free Cash Flow$292K
Debt & Equity
Debt 71%
Equity 29%
Total Debt$2.58M
Total Equity$1.03M
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
- 1:10Reverse splitOct 15, 202410 shares → 1
- 1:3Reverse splitApr 9, 20213 shares → 1
Balance Sheet Details
Assets$13.79M
Liabilities$12.75M
Accounts Receivable$2.1M
Accounts Payable$1.58M
Inventory$3.99M
PP&E (Net)$6.08M
Goodwill$0
Intangible Assets$3K
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $17.71M | $15.84M | $9.48M | $4.01M | $1.78M | $0 |
| YoY Growth | 11.8% | 67.1% | 136.2% | 125.2% | - | - |
| Cost of Revenue | $11.45M | $10.83M | $5.12M | $2.63M | $1.22M | $56K |
| Gross Profit | $6.26M | $5.01M | $4.36M | $1.39M | $560K | -$56K |
| Gross Margin | 35.3% | 31.6% | 46.0% | 34.5% | 31.4% | - |
| Research and Development | $0 | $0 | $0 | $64K | $130K | $4K |
| Selling, General, and Administrative | $5.97M | $6.03M | $4.41M | $2.74M | $5.43M | $739K |
| Other | $980K | $260K | $514K | $290K | $111K | -$4K |
| Total Operating Expenses | $6.95M | $6.29M | $4.93M | $3.09M | $5.67M | $739K |
| Operating Income (EBIT) | -$693K | -$1.28M | -$570K | -$1.7M | -$5.1M | -$795K |
| Operating Margin | -3.9% | -8.1% | -6.0% | -42.5% | -286.5% | - |
| Interest Expense | $996K | $741K | $245K | $197K | $326K | $172K |
| Interest Income | $0 | $0 | $0 | $0 | $6K | $6K |
| Other Income (Expense) | -$9.16M | -$1.47M | -$2.52M | -$266K | -$321K | -$1.1M |
| Income Before Tax (EBT) | -$9.86M | -$2.75M | -$3.09M | -$1.97M | -$5.43M | -$1.89M |
| Income Tax Expense | -$423K | -$226K | -$40K | -$11K | $0 | $0 |
| Net Income | -$9.43M | -$2.53M | -$3.05M | -$1.96M | -$5.43M | -$1.89M |
| Net Income Margin | -53.3% | -16.0% | -32.2% | -48.9% | -304.7% | - |
| Supplementary Data | ||||||
| EPS | -2.36 | -0.06 | -0.07 | -0.05 | -0.19 | -0.10 |
| Diluted EPS | -2.36 | -0.06 | -0.07 | -0.05 | -0.19 | -0.10 |
| Weighted Average OS | 5.60M | 55.97M | 59.23M | 50.23M | 39.70M | 27.50M |
| EBITDA | -$7.99M | -$1.01M | $411K | -$991K | -$4.69M | -$1.67M |
| EBITDA Margin | -45.1% | -6.4% | 4.3% | -24.7% | -263.5% | - |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $924K | $983K | $723K | $531K | $817K | $1.69M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $1K |
| Cash and Short-Term Investments | $924K | $983K | $723K | $531K | $817K | $1.7M |
| Accounts Receivable | $2.1M | $2.8M | $2.54M | $1.07M | $693K | $0 |
| Inventory | $3.99M | $3.06M | $2.86M | $1.3M | $1.01M | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $329K |
| Total Current Assets | $7.34M | $7.75M | $6.41M | $3.01M | $2.63M | $2.02M |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $6.08M | $6.42M | $6.93M | $6.97M | $7.15M | $6.06M |
| Goodwill | $0 | $6.73M | $6.73M | $7.92M | $0 | $0 |
| Intangible Assets | $3K | $1.79M | $2.23M | $2.52M | $7K | $9K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $362K | $361K | $365K | $78K | -$4K | -$6K |
| Total Long-Term Assets | $6.44M | $15.3M | $16.26M | $17.49M | $7.16M | $6.07M |
| Other Assets | $0 | $0 | $7 | $0 | $0 | $0 |
| Total Assets | $13.79M | $23.06M | $22.67M | $20.5M | $9.79M | $8.09M |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $1.58M | $1.51M | $2.13M | $1M | $642K | $623K |
| Short-Term Debt | $45K | $2.48M | $2.72M | $2.5M | $1.74M | $1.74M |
| Current Income Tax Payable | $8.16M | $7.8M | $3.57M | $218K | $0 | $0 |
| Current Unearned Revenue | $0 | -$12K | $196K | -$1M | $0 | -$623K |
| Other Current Liabilities | $0 | $12K | $0 | $785K | $176K | $623K |
| Total Current Liabilities | $10.23M | $12.06M | $9.02M | $3.81M | $2.56M | $2.36M |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $2.47M | $43K | $43K | $43K | $43K | $2.11M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $423K | $576K | $684K | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $2.52M | $528K | $651K | $742K | $43K | $2.11M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $12.75M | $12.59M | $9.68M | $4.55M | $2.6M | $4.47M |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $21.36M | $21.36M | $21.36M | $29.91M | $11.28M | $5.95M |
| Retained Earnings | -$24.94M | -$15.51M | -$12.98M | -$9.93M | -$7.97M | -$2.54M |
| Comprehensive Income & Other | $4.62M | $4.62M | $4.62M | $4.52M | $3.88M | $213K |
| Other Stockholders' Equity | $4.62M | $4.62M | $4.62M | -$4.04M | $3.88M | $213K |
| Total Equity | $1.03M | $10.47M | $12.99M | $15.95M | $7.19M | $3.62M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $13.79M | $23.06M | $22.67M | $20.5M | $9.79M | $8.09M |
| Supplementary Data | ||||||
| Total Debt | $2.58M | $2.6M | $2.81M | $2.56M | $1.78M | $3.84M |
| Net Debt | $1.66M | $1.61M | $2.09M | $2.03M | $968K | $2.15M |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | ||||||
| Net Income | -$9.43M | -$2.53M | -$3.05M | -$1.96M | -$5.43M | -$1.89M |
| Depreciation & Amortization | $874K | $1.01M | $981K | $783K | $408K | $56K |
| Deferred Income Tax | -$423K | -$226K | -$108K | -$22K | $1K | $0 |
| Stock-Based Compensation | $0 | $0 | $99K | $635K | $3.8M | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $167K | -$698K | -$2.57M | -$246K | -$476K | -$293K |
| Inventory | -$929K | -$547K | -$1.55M | -$290K | -$671K | $0 |
| Accounts Payable | $0 | $3.47M | $4.43M | $58K | $274K | $0 |
| Other Working Capital | $532K | -$812K | $196K | -$71K | $677 | $11K |
| Total Working Capital Change | -$231K | $1.41M | $499K | -$548K | -$874K | -$283K |
| Other Non-Cash Items | $9.8M | $1.67M | $2.52M | $362K | $72K | $1.01M |
| Net Cash from Operating | $589K | $1.33M | $940K | -$751K | -$2.02M | -$1.11M |
| Investing Activities | ||||||
| Capital Expenditures | -$297K | -$485K | -$446K | -$414K | -$1.28M | -$3.11M |
| Acquisitions | $0 | $0 | $0 | $227K | $0 | $119K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | -$287K | $0 | $6K | -$40K |
| Net Cash from Investing | -$297K | -$485K | -$732K | -$187K | -$1.28M | -$3.03M |
| Financing Activities | ||||||
| Debt Repaid | $22K | $19K | $16K | -$706K | -$43K | - |
| Common Stock Issuance | $0 | $0 | $0 | $96K | $2.48M | $1.89M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$329K | -$304K | -$214K | -$149K | -$98K | $4.15M |
| Net Cash from Financing | -$351K | -$581K | -$16K | $653K | $2.42M | $4.15M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$59K | $260K | $192K | -$286K | -$878K | $10K |
| Supplementary Data | ||||||
| Operating Cash Flow | $589K | $1.33M | $940K | -$751K | -$2.02M | -$1.11M |
| Capital Expenditure | -$297K | -$485K | -$446K | -$414K | -$1.28M | -$3.11M |
| Free Cash Flow | $292K | $841K | $495K | -$1.17M | -$3.3M | -$4.22M |
| Cash at Beginning | $983K | $723K | $531K | $817K | $1.69M | $1.68M |
| Cash at End | $924K | $983K | $723K | $531K | $817K | $1.69M |