Gilmer’s updated analysis comes after VEXT reported its fourth quarter and year-end financial results for 2021, which Gilmer noted to be in line with expectations.
We continue to build-out a vertical footprint in the Ohio market with our joint-venture partners, and will be in a position to apply for a license transfer for the dispensary we currently have under letter of intent in Columbus.
Vext ended 2021 with $37.2 million in revenue for a year-over-year increase of 47.6 per cent, with Gilmer setting a $45.8 million forecast for 2022, suggesting a potential year-over-year increase of 23.1 per cent.
Meanwhile, the company reported $13.4 million in adjusted EBITDA to wrap up 2021 for an implied margin of 36 per cent.