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MIMI'S ROCK Mimi's Rock reports Q3 2021 results TORONTO , Nov. 26 , 2021 / CNW / - Mimi's Rock Corp. ( TSXV : MIMI ) ( OTCQB : MIMNF ) ( the " Company " ) , an online dietary supplement and wellness company , today announced its third quarter financial results for the period ending September 30 , 2021 . " Our 2021 third quarter saw top line revenues coming in lower than expected due to continued foreign exchange headwinds and some supply chain challenges . " commented CEO , David Kohler . " Fortunately , our unit volumes continue to remain strong and we are seeing good returns so far from our new advertising partnership with Teikametrics . We have solved the supply chain challenges and are anticipating a stronger Q4 as a result . " Third Quarter Highlights Revenues in Q3 2021 were $ 8.6 million , compared to $ 9.8 million in the same period last year . Third quarter 2021 revenues were impacted by product availability issues as well as a comparatively lower US dollar relative to the same period a year ago . While in - market revenues were softer , the impact to reported revenue of the lower US dollar in Q3 2021 was approximately $ 0.4 million compared to the same period in Q3 2020. Over the nine months this year , the lower US dollar has impacted revenue by almost $ 1.9 million compared to 2020 . The Company's skin care businesses continued to perform well in the third quarter of 2021. Though gross revenues were not as high as in the first two quarters of 2021 , total margins remained consistent as lower discounting was applied , resulting in overall higher average selling prices . Margins remain above 70 % for the year and are expected to improve slightly due to modest price increases on key products . Volumes have remained constant or improved in most products compared to the same period a year ago . Gross margin for Q3 2021 was $ 5.9 million , compared to $ 6.9 million , in the same period a year ago . Advertising spend in Q3 2021 included spend on both legacy campaigns as well as new initiatives in connection with the Company's new advertising partner . Early indications are positive and sales performance has begun to improve as the various campaigns roll out . EBITDA for the three months ended September 30 , 2021 was $ 0.1 million , compared to $ 1.3 million for the three months ended September 30 , 2020 . Similarly , Adjusted EBITDA , which adds back non - cash stock - based compensation and foreign exchange losses was $ 0.2 million for Q3 2021 , compared to Adjusted EBITDA of $ 1.2 million for Q3 2020 . Net loss for Q3 2021 was $ 0.3 million , compared to net income of $ 0.5 million for Q3 2020 . Summary of Quarterly Results ( in 000's ) Revenue Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 8,614 9,744 9,758 9,134 9,774 10,943 10,435 7,717 EBITDA1 59 1,101 149 756 1,243 1,584 1,099 ( 1,356 ) Adjusted EBITDA 218 1,126 212 603 1,166 1,573 1,228 ( 1,220 ) Net Income ( 259 ) 502 ( 233 ) 523 546 928 282 ( 2,460 )