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good . natured better everyday products good natured Products Inc. Announces Quarterly Results for the Three Months Ended March 31 , 2021 VANCOUVER , BC , May 27 , 2021 / CNW / - good natured Products Inc. ( the " Company " or " good naturedⓇ " ) ( TSX - V : GDNP ) , a North American leader in earth - friendly plant - based products , today announced its financial results for the three months ended March 31 , 2021 ( or " Q1 FY21 " ) . Key Highlights : • Revenues for Q1 FY21 increased 159 % to $ 7.9 million compared to $ 3.1 million for the three months ended March 31 , 2020 ( or " Q1 FY20 " ) . • Variable gross profit , a non - GAAP measure , for Q1 FY21 increased 191 % to $ 3.2 million , 40.8 % of sales , compared to $ 1.1 million , 36.3 % of sales in Q1 FY20 . Gross profit increased to $ 2.8 million , 35.3 % of sales , in Q1 FY21 , compared to $ 1.1 million , 36.3 % of sales , in Q1 FY20 . • Selling , general and administrative expenses ( " SG & A " ) , excluding acquisition activity , a non- GAAP measure , for Q1 FY21 were $ 2.7 million compared to $ 1.3 million for Q1 FY20 , representing an increase of 106 % . • The Company's adjusted EBITDA , a non - GAAP measure , for Q1 FY21 was a gain of $ 155,000 compared to a loss of $ 308,000 for Q1 FY20 . • In Q1 FY21 , the Company incurred a net loss of $ 1.9 million compared to a net loss of $ 0.8 million in Q1 FY20 . " Our first quarter revenue growth of just under 160 % sets the stage for our recently announced acquisition of Ex - Tech Plastics Inc. This highly strategic and accretive acquisition of Ex - Tech Plastics Inc. positions good naturedⓇ for further strong revenue growth and improved profitability , " stated Paul Antoniadis , CEO . " We are also extremely pleased to report our first ever positive EBITDA quarter , as our team members and partners worked hard through disruptions in key markets from COVID - 19 variants , extreme weather - related events in the southern US , and the external cost inflation in our logistic and fulfillment operations . In addition , new customer activity remains strong , and we are confident in our outlook for organic growth , highlighted by our recent launch of Canada's first compostable and Microwavable To Go Containers . These growth drivers are expected to mitigate the logistic inflationary cost pressures we are seeing which could continue through the rest of 2021. " The Company's Q1 FY21 audited financial statements and Management's Discussion and Analysis ( MD & A ) are available on SEDAR at sedar.com . Q1 FY21 Results Conference Call The Company is pleased to host a conference call to discuss its financial results for Q1 FY21 , hosted by Paul Antoniadis , Executive Chair & CEO , and Kevin Leong , Chief Financial Officer , on May 27 , 2021 at 11:00 AM Eastern / 9:00 AM Pacific time .