Ordinary Shares, Do Not Sell My Personal Information (CA Residents Only). Gross margin year-to-date amounted to a loss of $1.8 million compared to a loss of $3.5 million for the same period last year. I will now pass the call over to our Chief Financial Officer, Raymond Silcock, to discuss our financial results in more detail. There's also a VGM Score ('V' for Value, 'G' for Growth and 'M' for Momentum), which combines the weighted average of the individual style scores into one score. All rights reserved. Revenue for our second quarter totaled $12 million, a decrease of 4% from the same quarter last year despite the adverse impact on net sales of our existing the cannabis business. Zacks Industry Rank Education -- Learn more about the Zacks Industry Rank. Est. How much revenue does Neptune Wellness Solutions generate each year? During our fiscal second quarter of 2023, we experienced continued growth, mainly driven by our organic baby and toddler food brand, Sprout. What is the 50-day moving average of Neptune Wellness Solutions Inc. We use cookies to understand how you use our site and to improve your experience. By exiting cost-intensive businesses that were championed by our prior Boards and leadership, we are now finally able to say that we believe we will be on the path to profitability quicker, slimming down, starting to simplify the organization and focusing on consumer packaged goods is the company's future. We anticipate that these drivers will lead to a Sprout gross margin of 22% by the end of fiscal '24. It is possible that this date will be updated in the future, once the company announces the actual date. completeness, timeliness, or correct sequencing of any of the Information on We have also continued to take action to manage operating expenses, cost cuts across the businesses and at corporate, have reduced the company's headcount from 170 to 56, a payroll reduction of $7.6 million or 49%. The 52 week low for Neptune Wellness Solutions Inc is $0.2304. To sum up, we are pleased with the year-to-date progress on our core brands, Sprout and Biodroga, increased revenue, better gross margins and lower costs, a pattern we expect to continue through the rest of this year. Nasdaq provides visual representation of analyst expected earnings growth. This includes personalizing content and advertising. We continue to seek relevant opportunities to launch new products into categories where we see the most potential. The Company utilizes a highly flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled to quickly adapt to consumer demand and bring new products to market through its mass retail partners and e-commerce channels. Please go ahead. Thank you for joining us today for the Neptune Wellness Solutions fiscal second quarter 2023 earnings conference call. Our definition of adjusted EBITDA will likely differ from that used by other companies, including our peers, and therefore, comparably may be limited. ZacksTrade and Zacks.com are separate companies. About Neptune Wellness: Neptune Wellness Solutions is a unique global health and wellness company that is changing consumer habits through the creation and distribution of environmentally friendly, ethical and innovative consumer product goods. Research, Inc. nor its Information Providers can guarantee the accuracy, Gross margins have already improved sequentially quarter-over-quarter in fiscal year '23 driven by higher sales volume and increased selling prices, and we expect further gross margin improvement for Sprouts in 2023 from the 4 key drivers that Michael enumerated in his remarks. For example, we are planning to launch Forest Remedies multi Omega kid gummies early next year, the formulation for which has already been developed. Exiting the cannabis business was a significant milestone for Neptune as divesting the cannabis assets has freed us to pursue relationships with investors, corporations and banks who have restrictions against working with companies that own and/or operate cannabis businesses. Neptune Wellness Solutions Inc. (NEPT) SEC Filing 8-K Material Event for the period ending Thursday, March 9, 2023. on revenue of $9.8 million. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Enjoy a 7-Day Free Trial Thru Mar 21, 2023! In the second quarter, SG&A expenses were $15.9 million compared to $15.4 million for the same period last year. The related inventories were written down during the third and fourth quarters of fiscal year 2021, resulting in a restatement for the three-month and nine-month periods ended December 31, 2020. Within each Score, stocks are graded into five groups: A, B, C, D and F. As you might remember from your school days, an A, is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F. As an investor, you want to buy stocks with the highest probability of success. Neptune Wellness Solutions PE ratio as of February 24, 2023 is 0.00. Germany Switzerland Spain Poland Netherlands Greece France Ireland Italy Belgium Austria. Neptune Wellness Solutions (NASDAQ:NEPT) has a recorded net income of -$74.97 million. Enter your email address below to receive the latest news and earnings results for NEPT and its competitors with MarketBeat's FREE daily newsletter. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. . Nielsen data last 13 weeks, week ending October 8, 2022. For example: if there are 10 estimate revisions for a given period, and all were up, that would be a 100% positive agreement on the direction of estimate revisions. To learn more, click here. Turning now to the results for Q2. We saw improvements while pulling back on promotions. Last quarter, we announced the addition of a new display featuring the CoComelon co-branded product at 2,500 Walmart doors in August and September, which was a major contributor to an approximate 31% increase in net sales for the first half of this year versus the same time period during the prior year. I will go into both of these as well as operational highlights right now. The Solar Eclipse on the 20th forges an enormously powerful angle to Pluto. Three, an improved product mix. in the Information. contact@marketbeat.com Our first-time agents make up to 75-150K per year, even with no sales experience . Rocket Lab Stock Could Go to the Moon, Patience Required, Earnings Estimates and Acutals by Quarter Chart Description, Estimated Revenue and Actual Revenue by Quarter Chart Description. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. Contactless delivery and your first delivery or pickup order is free! At Neptune Wellness Solutions, we promise to treat your data with respect and will not share your information with any third party. Neptune Wellness Solutions Inc. SEC Filing - Quarterly Report (10-Q) December 19, 2022 SEC FilingsMon, Dec. 19, 2022 Neptune Wellness Solutions Inc. (NEPT) Q2 2023 Earnings Call Transcript SA. If you experience any issues with this process, please contact us for further assistance. These returns cover a period from January 1, 1988 through February 6, 2023. Product launches of Forest Remedies into large retail chains nationwide have translated to positive sales growth, which we expect to continue through fiscal 2023, in particular, launches into Sprouts, farmers markets, Fresh Time and a large pharmacy chain in prior quarters have translated to week-over-week growth and strong customer demand. We are gearing up for distribution expansion in Q4 as we are doubling our SKU count and more than doubling our door count from 900 to 2,300 doors with a major retailer, Sprout's distribution growth in terms of store count has reached nearly 28,000 doors. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. Neptune Wellness Solutions, Inc. is a diversified health and wellness company. In addition to all of the proprietary analysis in the Snapshot, the report also visually displays the four components of the Zacks Rank (Agreement, Magnitude, Upside and Surprise); provides a comprehensive overview of the company business drivers, complete with earnings and sales charts; a recap of their last earnings report; and a bulleted list of reasons to buy or sell the stock. We continue to evaluate additional steps to manage all our expenses appropriately, and we expect Sprout to have positive EBITDA by the end of fiscal 2025. To conclude, Neptune made significant progress over the second fiscal quarter to execute on its consumer packaged goods growth strategy and improve our path to profitability. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The price to earnings ratio is calculated by taking the latest closing price and dividing it by the most recent earnings per share (EPS) number. Neptune Wellness Solutions has not confirmed its next earnings publication date, but the company's estimated earnings date is Thursday, March 23rd, 2023 based off last year's report dates. Real time prices by BATS. United States Canada UK Hong Kong Japan Australia New Zealand. Sprout continued to roll out new SKUs during the second quarter, further increasing our opportunity for revenue growth. $13.65 - $17.86; . StockNews.com assumed coverage on shares of Neptune Wellness Solutions (NASDAQ:NEPT - Get Rating) (TSE:NTB) in a research note issued to investors on Thursday. The Awards Gala, hosted by radio and television legend Donnie Simpson, will . Neptune Wellness Solutions Inc. SEC filings breakout by MarketWatch. Identify stocks that meet your criteria using seven unique stock screeners. The business will offer a selection of CBD-infused drinks in the US, including flavored teas and lemonades. What is the pe ratio of Neptune Wellness Solutions Inc? You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. Get short term trading ideas from the MarketBeat Idea Engine. Data Provider:Zacks Investment Research. The Zacks Equity Research reports, or ZER for short, are our in-house, independently produced research reports. NASDAQ data is at least 15 minutes delayed. Steps we have taken over the past year to increase product lines and grow sales leads have continued to translate to positive sales in the second quarter that we expect to continue through fiscal 2023. Product quality remains a key pillar for Biodroga, so the selections of new co manufacturers are carefully managed by our quality team. I'd now like to turn the call over to Michael. Operator: Good evening, ladies and gentlemen, and welcome to the Neptune Wellness Solutions Inc. Second Quarter 2023 Earnings Call. For additional information, please visit: https://neptunewellness.com/. A positive difference is obviously better than a negative one. See the Full List of Stocks To Beat Earnings. Please log in to your account or sign up in order to add this asset to your watchlist. If you do not, click Cancel. Assumptions were made in preparing these forward-looking statements, which are subject to risks as laid out in our public filings found on SEDAR and EDGAR. Signing bonuses did not occur previously, so no restatement of the previous periods was needed, but there were non-employee compensation expenses related to warrants in previous quarters; consequently, the amounts for the years ended March 31, 2021 and 2020 reflect the sum of those expenses for all quarters of respective fiscal years. Raymond Silcock: Thank you, Michael, and good afternoon, everyone. Neptune Wellness Solutions Inc Stock - NEPT Share Price Today, News and Discussion 24.98% BAC 0.63% MA 2.35% FRC 11.18% GME 3rd Party Ad. American Consumer News, LLC dba MarketBeat 2010-2023. The company also accounts for a (ttm) Dividend Yield Ratio of 3. Neptune Wellness Solutions has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Thursday, March 23rd, 2023 based off prior year's report dates. The firm set a "sell" rating on the biotechnology company's stock. Look out for NEPT's next earnings release expected on March 23, 2023. For their last quarter, Neptune Wellness Solutions (NEPT) reported earnings of -$0.79 per share. Get Neptune Wellness Solutions Earnings Alerts. We made significant improvements in gross margin this quarter and expect fluctuation in future quarters as we progress towards our plan of 22% in 2024, largely driven by the following 4 key drivers: one, improvement of the distribution and warehousing costs as a result of the move to a full turnkey model as well as improved logistics cost management. Neptune Wellness Solutions Inc., a health and wellness products company, specializes in the extraction, purification and formulation of cannabis products, as well as other specialty ingredients, such as MaxSimil, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and various other marine and seed oils. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the 'unsubscribe' section below. NEPT has generated -$14.12 earnings per share over the last four quarters. the Web site, including, but not limited to Information originated by Zacks The webcast will be archived for approximately 30 days. View which stocks are hot on social media with MarketBeat's trending stocks report. Non-GAAP measures should not be considered a substitute or in isolation for measures prepared in accordance with GAAP. I am very proud of the momentum the Sprout team has continued over the second quarter and we look forward to continuing this through fiscal 2023. With me today are Michael Cammarata, President and Chief Executive Officer; and Raymond Silcock, Chief Financial Officer. If the typical year-round 9-5 isn't for you, this seasonal position provides the freedom . What is the price to book ratio of Neptune Wellness Solutions Inc? While we continue to experience sector-wide supply chain issues over Biodroga and Forest Remedies, we have been aggressive in implementing streamlining and efficiencies to mitigate these challenges and ensure cost saving. In addition, we had a change in the fair value of derivatives, which cost $7.3 million, offset by a gain of $3.1 million in foreign currency adjustments. The U.S. Census Bureau tracks median household income up to $250,000. The light blue area represents the range of Wall Street analysts' earnings estimates for each quarter. To continue reading the Q&A session, please click here. Thank you, Valter, and hello, everyone. The principal driver of Sprouts growth in Q2 was in Walmart displays, which we secured in 2,500 Walmart locations last -- this past quarter. Michael Cammarata: Thank you, Valter, and hello, everyone. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release. All amounts are in U.S. dollars. Neptune Wellness Solutions (NASDAQ:NEPT) has a recorded net income of -$74.97 million. Lowe's Retail Sales - Part Time. The funds from the expanded facility are intended to be used for general Sprout working capital and the repayment of certain outstanding obligations. See rankings and related performance below. -30.90M. This includes personalizing content and advertising. 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