Australis Capital Inc. (OTCMKTS:AUSAF) is up 25% in a week. The company has reported its fiscal Q1 2022 financial results in which revenue was up 266% QoQ and 1,652% YoY. Revenue was $1.7 million, driven by Green Therapeutics-related management fee income and the first full quarter of ALPS income.
Q1 2022 is the best quarter in the company’s history, surpassing revenue in any full fiscal year since the establishment of the company. In addition, the company acquired ALKPS on March 9, 2021, and it reported 90% revenue growth QoQ.
Gross income was 62% growing 1,814% YoY to $1.1 million due to robust ALPS consulting revenues and management fee income associated with Green Therapeutics. Net loss was $9.5 million or $0.04 per share, driven by the price drop of Body and Mind shares held in Q1 2022. CEO Terry Booth said that the company continued its strong Q4 2021 performance, transforming itself into a fast-growing multi-state operator in the cannabis sector in the US. With Strong Q1 2022, AUSA is worth watching in the coming quarters.
Market Reaction:
On Monday, AUSAF stock ended flat at $0.1600 with more than 69k shares, compared to its average volume of 122k shares. The stock has moved within a range of $0.1600 – 0.1900 after opening the trade at $0.16.
