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MIMI'S ROCK Mimi's Rock reports Q2 2021 results Return to strong earnings despite FX headwinds TORONTO , Aug. 4 , 2021 / CNW / - Mimi's Rock Corp. ( TSXV : MIMI ) ( OTCQB : MIMNF ) ( the " Company " ) , an online dietary supplement and wellness company , today announced its second quarter financial results for the period ending June 30 , 2021 . " Our 2021 second quarter was one of our best since the start of the global pandemic , from an in- market performance perspective , " commented CEO , David Kohler . " Our unit volumes were robust , and despite a significant foreign currency exchange headwind , we saw a lift of almost $ 1 million dollars in EBITDA , versus the prior quarter . This was driven in part by net price increases and the corresponding reduction in COGS ( as a percentage of revenue ) . We expect this trendline to continue as we move into the back half of the year . " Second Quarter Highlights Revenues in Q2 2021 were $ 9.7 million , compared to $ 10.9 million in the same period last year . Second quarter 2021 revenues were the strongest since the same period a year ago for the Company's DTI business . On a constant - currency basis , revenues were similar to Q2 2020 . Reported revenues were impacted by the lower US dollar in the period , accounting for most of the difference in total revenue from the prior year period . Margin improvements as a result of less discounting compared to Q1 2021 , allowed EBITDA to remain strong and considerably up from last quarter . The Company's skin care businesses continued to perform well in the second quarter of 2021 . Though gross revenues were not as high as in the first quarter of 2021 , total margins remained consistent as lower discounting was applied , resulting in overall higher average selling prices . Total sales unit volumes were higher in both the supplements and skincare business in Q2 2021 compared to Q2 2020 . Gross margin for Q2 2021 was $ 7.2 million , or 74.4 % , compared to $ 7.6 million , or 69.8 % in the same period a year ago . EBITDA for the three months ended June 30 , 2021 was $ 1.1 million , compared to $ 1.6 million for the three months ended June 30 , 2020 . Similarly , Adjusted EBITDA , which adds back non - cash stock - based compensation and foreign exchange losses was $ 1.1 million for Q2 2021 , compared to Adjusted EBITDA of $ 1.6 million for Q2 2020 . Net income for Q2 2021 was $ 0.5 million ( $ 0.01 per share ) , compared to $ 0.9 million ( $ .02 per share ) for Q2 2020 . Summary of Quarterly Results ( in 000's ) Q2 2021 Q1 2021 Q4 2020 Revenue 9,744 9,758 9,134 Q3 2020 9,774 Q2 2020 Q1 2020 10,943 10,435 Q4 2019 7,717 Q3 2019 8,755 EBITDA 1,101 149 756 1,243 1,584 1,099 ( 1,356 ) 627 Adjusted EBITDA 1,126 212 603 1,166 1,573 1,228 ( 1,220 ) 903 Net Income 502 ( 233 ) 523 546 928 282 ( 2,460 ) ( 243 )