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good . natured better everyday products good natured Products Inc. Announces Results for the Three and Six Months Ended June 30 , 2021 VANCOUVER , BC , Aug. 26 , 2021 / CNW / - good natured Products Inc. ( the " Company " or " good naturedⓇ " ) ( TSXV : GDNP ) , a North American leader in earth - friendly plant - based products , today announced its financial results for the three months ( " Q2 2021 " ) and six months ( " H1 2021 " ) ended June 30 , 2021 . Key Highlights : • Revenues for Q2 2021 increased 237 % to $ 12.4 million compared to $ 3.7 million for the three month period ended June 30 , 2020 ( " Q2 2020 " ) . H1 2021 revenues increased 201 % to $ 20.3 million compared to $ 6.7 million for the six month period ended June 30 , 2020 ( " H1 2020 " ) . • Variable gross profit , a non - GAAP measure , for Q2 2021 increased 163 % to $ 4.3 million , 34.7 % of sales , compared to $ 1.6 million , 44.3 % of sales in Q2 2020. Variable gross profit for H1 2021 increased 174 % to $ 7.5 million , 37.1 % of sales , compared to $ 2.7 million , 40.7 % of sales in H1 2020 . • Gross profit for Q2 2021 and H1 2021 was $ 3.5 million and $ 6.3 million respectively . As a percentage of sales , gross profit for Q2 2021 and H1 2021 was 28.3 % and 31.1 % . Selling , general and administrative expenses ( " SG & A " ) , excluding acquisition activity , a non- GAAP measure , for Q2 2021 and H1 2021 were $ 3.8 million and $ 6.4 million compared to $ 1.6 million and $ 2.9 million for Q2 2020 and H1 2020 , representing an increase of 140 % and 125 % respectively . • The Company's adjusted EBITDA , a non - GAAP measure , for Q2 2021 and H1 2021 was a loss of $ 175,000 and a loss of $ 20,000 compared to a loss of $ 40,000 and a loss of $ 348,000 for Q2 2020 and H1 2020 respectively . • In Q2 2021 , the Company incurred a net loss of $ 3.7 million compared to a net loss of $ 1.5 million in Q2 2020. Net loss for H1 2021 was $ 5.6 million compared to a net loss of $ 2.3 million in H1 2020 . " It was another outstanding quarter of revenue growth for the Company , increasing 237 % year over year . Our revenue for the quarter was bolstered by contribution from our strategic acquisitions and strong execution by the team and our partners . Together , we increased our B2B customer base to 800 customers from 600 in Q1 of 2021 , " stated Paul Antoniadis , CEO of good naturedⓇ . " In anticipation of growing demand from the lifting of COVID - 19 restrictions across U.S. and Canada , we made the strategic decision to build inventory levels . This positioned us to service demand from our existing customer base and increase our market share while the industry continues to face external supply chain challenges that has limited or delayed product availability in the market " . Paul Antoniadis continued , " Our variable gross profit and gross profit rates for the quarter were at the high end of our range announced on July 20 , 2021. We saw year over year rate changes from a higher product mix from our industrial business group , higher mix of national customers , higher mix of sales from our insource manufacturing , lower mix of COVID - 19 medical face shields and packaging ,