Juva Life Inc.

Juva Life reported Q2 revenue of $1.8 million, up 144% from the same period last year. For the six months ended June 30, 2022, revenue was $2.9 million, up 123% year over year and described as a record. Net loss for the quarter was $1.9 million, and management said margins improved and operating expenses declined as a percentage of sales, though no gross margin figure was provided. The company completed an $11.8 million financing in the quarter. Looking ahead, management did not provide formal guidance, but said they expect revenue growth to continue on a similar trajectory in Q3 and Q4, with a meaningful bump from Stockton and retail operations.

Doug Chloupek framed the first half of 2022 as “transformative” and said Juva is executing on two pillars: cannabis operations and pharmaceutical research. He emphasized that the Stockton facility is now a larger revenue engine, noting the latest harvest was the company’s largest to date and that the business is just beginning to realize the revenue benefit in Q3 and Q4. On the research side, he said Juva’s proprietary compounds and the relaunched JuLi Registry support the company’s long-term mission to validate cannabis-based therapeutics with real clinical data.

Mat Lee said Q2 revenue reached $1.8 million, a 144% increase, and six-month revenue was $2.9 million, up 123%. He noted a quarterly net loss of $1.9 million, described as substantially lower than last year, and said margins improved while operating expenses fell as a percentage of sales. He also highlighted the $11.8 million financing, explaining it helped fund the Stockton acquisition, strengthen cash, support chemistry and R&D, and help build out the Redwood City retail location. He said the company is not providing formal guidance, but expects similar revenue growth momentum in Q3 and Q4.

In Q&A, management said they have had discussions with pharmaceutical companies about Juva-019 and Juva-041, but did not disclose details. They said the molecules remain central to the company’s mission and that licensing or a full sale is still a possible path. On operations, they said Stockton’s latest harvest nearly doubled average yield and could support a fourfold increase in harvest frequency and volume, while Redwood City is under building review and could open by late 2022 or early 2023 if approvals and construction go smoothly. Management also said there are no plans to expand Stockton further and that future funding should be supported by cannabis revenue.