Stocks CWLXF Financial statements
Financial statementsC21 Investments Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data C21 Investments Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.59 | 37.7 | 36.1 | 33 | 28.9 | 28.3 | 30.1 | 32.6 | |
| Cost of revenue | 2.68 | 25.8 | 15.4 | 14.2 | 15.5 | 17.1 | 17.6 | 19 | |
| Gross profit | 0.18 | 13.1 | 18 | 18.8 | 13.4 | 11.1 | 12.6 | 13.6 | |
| Selling, general and administrative | 8.81 | 9.06 | 9.45 | 9.68 | 11.3 | 11.3 | |||
| Selling and marketing | 0.08 | 0.08 | 0.08 | 0.21 | 0.24 | ||||
| General and administrative | 0.03 | 0.19 | 0.5 | 0.42 | 7.73 | 8.23 | |||
| Operating income | -0.6 | -12 | -1.18 | 9.24 | 9.75 | 3.96 | 1.47 | 1.28 | 2.28 |
| Interest expense | 3.93 | 1.08 | 0.46 | 0.04 | 0.29 | 0.19 | |||
| Interest income | 0.03 | ||||||||
| Pre-tax income | -0.6 | -23.6 | -28.8 | -1.63 | 17.1 | 4.19 | 0.26 | 0.39 | 1.38 |
| Income tax | 0 | 0 | 3.71 | 2.97 | 4.93 | 2.81 | 3.48 | 4.15 | 4.61 |
| Income from continuing operations | -4.6 | 12.2 | 1.38 | -3.22 | -3.76 | -3.24 | |||
| Net income | -0.6 | -23.6 | -32.6 | -7.83 | 9.95 | 0.29 | -3.31 | -3.97 | -3.24 |
| EBITDA | -11.4 | 2.22 | 11.5 | 11.6 | 5.8 | 2.88 | 2.99 | 4.06 | |
| EPS, basic | -0.13 | -0.89 | -0.49 | -0.07 | 0.08 | 0.00 | -0.03 | -0.03 | -0.03 |
| EPS, diluted | -0.13 | -0.89 | -0.50 | -0.07 | 0.08 | 0.00 | -0.03 | -0.03 | -0.03 |
| Shares, basic (weighted) | 105 | 118 | 120 | 120 | 120 | 118 | |||
| Shares, diluted (weighted) | 105 | 121 | 123 | 123 | 121 | 118 |
Balance sheet
| FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 0.21 | 9.07 | 3.08 | 6.24 | 3.07 | 1.89 | 2.41 | 2.63 | 2.23 |
| Receivables | 0.01 | 0.08 | 0.44 | 0.1 | 0.2 | 0.4 | 0.19 | 0.12 | 0.06 |
| Inventory | 0 | 6.86 | 6.19 | 2.69 | 4.05 | 4.17 | 2.71 | 4.05 | 4.59 |
| Other current assets | 0.78 | 0.77 | 0.88 | 0.75 | 0.65 | 0.59 | |||
| Total current assets | 0.23 | 18.5 | 11.7 | 11.3 | 10.3 | 8.6 | 7.24 | 7.5 | 8.31 |
| Property, plant and equipment | 2.08 | 3.83 | 2.75 | 4.87 | 4.69 | 3.43 | 2.67 | 2.3 | |
| Lease right-of-use assets | 0 | 7.74 | 4.66 | 9.77 | 1.22 | ||||
| Goodwill | 0 | 29.2 | 28.5 | 28.5 | 28.5 | 28.5 | 28.5 | 28.5 | 28.5 |
| Intangible assets | 13.4 | 12.7 | 11 | 9.22 | 7.89 | 6.48 | 8.09 | 6.41 | |
| Total assets | 0.28 | 77.4 | 61.5 | 66.8 | 61.8 | 58.3 | 54.5 | 57 | 54.4 |
| Accounts payable | 0.15 | 4.98 | 3.49 | 1.38 | 1.4 | 1.84 | 1.19 | 1.05 | 1.35 |
| Accrued liabilities | 1.18 | 0.43 | 0.45 | 0.42 | 0.49 | 0.51 | |||
| Short-term debt | 0.13 | 0.08 | |||||||
| Total current liabilities | 0.15 | 31.8 | 38.6 | 15.2 | 16 | 15 | 14.2 | 7.96 | 6.39 |
| Long-term debt | 8.11 | 2.03 | 0 | ||||||
| Lease liabilities | 3.49 | 3.87 | 9.28 | 8.95 | 8.55 | 9.19 | 9.77 | 9.14 | |
| Other non-current liabilities | 0 | 0.1 | |||||||
| Total liabilities | 0.21 | 56.3 | 47.9 | 43.6 | 28.1 | 24 | 23.5 | 28.3 | 29 |
| Total debt | 0 | 0.62 | 0.54 | ||||||
| Retained earnings | -14.4 | -38 | -70.5 | -79.4 | -69.8 | -69.5 | -72.8 | -76.8 | -80.1 |
| Other comprehensive income | -1.6 | -2.37 | -2.29 | -2.27 | -2.14 | -2.19 | |||
| Shareholders' equity | 13.6 | 23.3 | 33.7 | 34.3 | 31 | 28.7 | 25.4 | ||
| Total equity | 0.07 | 21.1 | 13.6 | 25.3 | 33.7 | 34.3 | 31 | 28.7 | 25.4 |
| Total liabilities and equity | 0.28 | 77.4 | 61.5 | 66.8 | 61.8 | 58.3 | 54.5 | 57 | 54.4 |
| Shares outstanding | 117 | 120 | 120 | 120 | 118 | 118 |
Cash flow statement
| FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | -0.6 | -23.6 | -32.6 | -7.83 | 9.95 | 0.29 | -3.31 | -3.97 | -3.24 |
| Depreciation and amortization | 0.58 | 3.41 | 2.27 | 1.82 | 1.84 | 1.41 | 1.71 | 1.78 | |
| Stock-based compensation | 0.49 | 0.37 | 0.21 | 0.02 | 0.85 | 0.24 | |||
| Deferred income tax | 0.6 | 0.59 | -0.06 | 0.25 | 0.1 | -0.28 | |||
| Change in receivables | 0.15 | -0.09 | -0.2 | 0.21 | 0.08 | 0.12 | |||
| Change in inventory | 1.7 | -1.36 | -0.29 | 1.95 | -0.7 | -0.05 | |||
| Change in payables | -1.43 | 1.57 | 0.18 | -1.03 | -0.42 | 0.34 | |||
| Cash from operations | -0.58 | -11.4 | 5.51 | 8.48 | 8.44 | 5.97 | 3.26 | 1.37 | 1.36 |
| Capital expenditures | -0.21 | -0.51 | -0.23 | -2.56 | -0.44 | -0.52 | -0.41 | -0.24 | |
| Cash from investing | -0 | -18.7 | -4.54 | -1.2 | -2.56 | -0.44 | -0.12 | -3.45 | -0.22 |
| Debt issued | -0.01 | 35.2 | 0.65 | 1.91 | 1.91 | ||||
| Debt repaid | -9.09 | -7.01 | |||||||
| Stock issued | 0.71 | 3.97 | 5.7 | 0.1 | 0 | ||||
| Share buybacks | 0 | -0.28 | -0.1 | ||||||
| Cash from financing | 0.69 | 39.2 | -7.1 | -3.73 | -7.74 | -6.63 | -2.65 | 1.67 | -1.54 |
| Exchange rate effect | 0.1 | -0.27 | 0.14 | 0.04 | |||||
| Net change in cash | 0.21 | 8.86 | -5.99 | 3.16 | -3.17 | -1.18 | 0.52 | -0.64 | -0.39 |
| Free cash flow | -11.6 | 5 | 8.26 | 5.88 | 5.53 | 2.74 | 0.96 | 1.12 | |
| Interest paid | -3.74 | 2.52 | 2.32 | 0.51 | 0.05 | 0.29 | -0.19 | ||
| Income taxes paid | 2.83 | 3.15 | 0 | 1.25 | 1.5 | 2.5 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 41.7% | Gross profit / revenue. |
| Operating margin | 7.0% | Operating income / revenue. |
| EBITDA margin | 12.4% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 4.2% | Pre-tax income / revenue. |
| Net margin | -9.9% | Net income / revenue. |
| FCF margin | 3.4% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 4.2% | Cash from operations / revenue. |
| Effective tax rate | 334.7% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | -12.0% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | -5.8% | Net income / average total assets. |
| Return on invested capital (ROIC) | 7.3% | Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%. |
| SG&A / revenue | 34.7% | Selling, general and administrative expense / revenue. |
| Stock-based pay / revenue | 0.7% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 0.8% | Capital expenditures / revenue. |
| D&A / revenue | 5.5% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 8.3% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 4.1% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | -2.0% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | 8.3% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | 0.5% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | -5.5% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | 77.8% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | -16.8% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating income CAGR, 5y | -24.4% | Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EBITDA growth, 1y | 35.8% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | -11.2% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | -18.8% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | -0.2% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -38.9% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | -30.6% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 16.6% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -41.3% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | -33.0% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | -11.3% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | -9.5% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 1.8% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | -4.5% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | -2.3% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | -4.0% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -1.8% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -1.2% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 2.5% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 1.30x | Current assets / current liabilities. |
| Quick ratio | 0.36x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.35x | (Cash + short-term investments) / current liabilities. |
| Liabilities / assets | 53.3% | Total liabilities / total assets. |
| Interest coverage | 12.2x | Operating income / interest expense. |
| Working capital | $1.9M | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 64.2% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | -$9.5M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.59x | Revenue / average total assets. |
| Fixed asset turnover | 13.1x | Revenue / average property, plant and equipment. |
| Inventory turnover | 4.40x | Cost of revenue / average inventory. |
| Days inventory | 83 days | 365 x average inventory / cost of revenue. |
| Receivables turnover | 359x | Revenue / average receivables. |
| Days sales outstanding | 1 days | 365 x average receivables / revenue. |
| Days payables | 23 days | 365 x average accounts payable / cost of revenue. |
| Cash conversion cycle | 61 days | Days inventory + days sales outstanding - days payables. |
| Capex / operating cash flow | 18.0% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | -$0.03 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| EPS, basic | -$0.03 | Net income per basic share, as reported (split-adjusted). |
| Revenue per share | $0.28 | Revenue / diluted weighted shares. |
| FCF per share | $0.01 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $0.01 | Cash from operations / diluted weighted shares. |
| Book value per share | $0.22 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | -$0.08 | Tangible book value / shares outstanding. |
| Cash per share | $0.02 | (Cash + short-term investments) / shares outstanding. |
| Buybacks / FCF | 9.2% | Share buybacks / free cash flow, when free cash flow is positive. |
What was C21 Investments Inc.'s revenue in fiscal 2026?
C21 Investments Inc. reported revenue of $32.6M for fiscal 2026, 8.3% higher than the year before.
Was C21 Investments Inc. profitable in fiscal 2026?
No. It reported a net loss of $3.2M.
How much free cash flow did C21 Investments Inc. generate in fiscal 2026?
Cash from operations of $1.4M minus capital expenditures of $244.8K left free cash flow of $1.1M.