Clever Leaves Holdings Inc.
cleverleaves.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2023 10-K, filed Apr 1, 2024. Its latest SEC filing is a 3 from May 21, 2024.
10-K for FY2023, filed Apr 1, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Makes and sells nutraceutical and natural wellness products to retailers and distributors, and cultivates and processes cannabis flower and extracts for pharmaceutical and cannabis companies and pharmacies.
10-K for FY2023, filed Apr 1, 2024In addition to the cannabinoid business, we were also engaged in the non-cannabinoid business of formulating, manufacturing, marketing…View ↗
We are a multi-national operator in the botanical cannabinoid and nutraceutical industries, with operations and investments in Colombia…View ↗
The growth of our cannabis/cannabinoid product portfolio is a significant focus area, and it emphasizes business to business solutions for…View ↗
How Did They Make Money?
Customers buy cannabinoid products and wellness goods, with sales usually tied to shipment or delivery; for consigned products, sales happen when the end consumer buys the goods.
10-K for FY2023, filed Apr 1, 2024
-
10-K for FY2023, filed Apr 1, 2024
FY2023 revenue by reportable segment ↗
$17.4M
-
10-K for FY2023, filed Apr 2, 2024
$17.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Cannabinoid
Sold outright
10-K for FY2023, filed Apr 1, 2024 |
38%
FY2020: 21%
|
Cannabinoid, FY2023
$6.6M Sources
|
Sold outright |
|
Non-Cannabinoid
Sold outright
10-K for FY2023, filed Apr 1, 2024 |
62%
FY2020: 79%
|
Non-Cannabinoid, FY2023
$10.9M Sources
|
Sold outright |
Who Were Their Customers?
Cannabinoid products go mainly to pharmaceutical and cannabis companies and pharmacies, mostly outside the U.S.; in the U.S., wellness products reached retailers directly or through distributors.
10-K for FY2023, filed Apr 1, 2024We are a multi-national operator in the botanical cannabinoid and nutraceutical industries, with operations and investments in Colombia…View ↗
1. The Cannabinoid operating segment is comprised of the Company’s cultivation, extraction, manufacturing, commercialization, and…View ↗
Australia: Our extracts and API sales from Colombia have been increasing to established cannabis companies in Australia. . In 2023 we…View ↗
Did Revenues Turn Into Profits?
No. It lost $17.9M in FY2023.
10-K for FY2023, filed Apr 2, 2024
−$15.6MView ↗
10-K for FY2023, filed Apr 2, 2024
−$17.9MView ↗
10-K for FY2023, filed Apr 2, 2024
−$11.5MView ↗
How Were They Changing?
-
Apr 26, 2024
Board approves voluntary delisting and plans to end SEC reporting
The company cited likely failure to meet Nasdaq listing rules and the costs of listing and reporting.
Sources
8-K, filed Apr 26, 2024
On April 24, 2024, the Board of Directors (the “Board”) of Clever Leaves Holdings Inc. (the “Company”) approved the voluntary delisting of…View ↗
Grew. Revenue grew 2.2x in 4 years, from $7.8M in FY2019 to $17.4M in FY2023, about 22% a year.
Non-cannabinoid business sale
The earlier business description included Herbal Brands' nutraceutical and wellness products; the latest says the non-cannabinoid business was sold after year end.
10-K for FY2020, filed Mar 30, 2021 10-K for FY2023, filed Apr 1, 2024In addition to the cannabinoid business, we are also engaged in the non-cannabinoid business of formulating, manufacturing, marketing…View ↗
In addition to the cannabinoid business, we were also engaged in the non-cannabinoid business of formulating, manufacturing, marketing…View ↗
Cannabinoid production footprint
The earlier report described cannabis cultivation in Portugal alongside Colombia; the latest says the Portugal wind-down is complete and cannabinoid production relies on Colombia.
10-K for FY2020, filed Mar 30, 2021 10-K for FY2023, filed Apr 1, 2024and Health Products, the Portuguese pharmaceutical regulator ("INFARMED") to begin preliminary cultivation operations, including an…View ↗
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