Company DescriptionC21 Investments Inc., an integrated cannabis company, cultivates, processes, distributes, and sells cannabis and hemp-derived consumer products in the United States. It offers packaged and wholesale flower, vaporizer pens, cured extracts, edibles, pre-rolls, tinctures, and topicals; and payroll and benefits services. The company was formerly known as Curlew Lake Resources Inc. and changed its name to C21 Investments Inc. in November 2017. C21 Investments Inc. was incorporated in 1987 and is headquartered in Vancouver, Canada.

How the Company Makes Money

C21 Investments Financial Statement Overview

Summary

C21 Investments is experiencing challenges in revenue generation and profitability, as indicated by declining revenue and negative net profit margins. The balance sheet reflects moderate leverage but a decline in stockholders' equity. Cash flow sustainability is a concern due to a significant decline in free cash flow and negative net income.

Income Statement

Neutral

C21 Investments shows declining revenue with a negative net profit margin, indicating profitability challenges. The TTM data reflects a challenging year with negative net income. Gross and EBIT margins show some efficiency, but the declining revenue trend from earlier years is concerning.

Balance Sheet

Neutral

The balance sheet of C21 Investments indicates a moderate debt-to-equity ratio, reflecting manageable leverage. While there is a decline in stockholders' equity, the equity ratio remains relatively stable. However, the company has faced challenges in maintaining positive net income, affecting return on equity.

Cash Flow

Neutral

Cash flow analysis shows a significant decline in free cash flow in the TTM compared to the previous year, reflecting operational challenges. The operating cash flow to net income ratio is not favorable due to negative net income, indicating potential cash flow management issues.

TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Breakdown
Income Statement		Total Revenue
28.56M	28.29M	28.89M	32.98M	36.13M	37.71M
	Gross Profit
11.78M	11.15M	13.40M	18.81M	18.65M	13.32M
	EBIT
930.99K	1.47M	3.96M	9.75M	7.52M	-1.18M
	EBITDA
2.96M	3.34M	6.26M	11.68M	12.56M	2.22M
	Net Income Common Stockholders
-4.43M	-3.31M	293.21K	9.95M	-6.11M	-32.56M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
539.65K	2.41M	1.89M	3.07M	6.24M	3.08M
	Total Assets
1.66M	54.53M	58.31M	61.85M	68.81M	61.45M
	Total Debt
0.00	10.72M	12.14M	18.67M	27.30M	36.07M
	Net Debt
-539.65K	8.31M	10.24M	15.60M	21.06M	32.99M
	Total Liabilities
224.80K	23.48M	24.00M	26.87M	43.47M	47.87M
	Stockholders Equity
1.44M	31.05M	34.32M	34.98M	25.34M	13.58M
Cash Flow		Free Cash Flow
-2.58M	5.46M	5.46M	4.27M	9.70M	5.00M
	Operating Cash Flow
1.23M	5.90M	5.90M	6.84M	9.92M	5.51M
	Investing Cash Flow
-3.44M	-390.93K	-390.93K	-1.39M	-1.10M	-4.54M
	Financing Cash Flow
1.94M	-6.68M	-6.68M	-7.84M	-5.70M	-7.10M

C21 Investments Risk Analysis

C21 Investments disclosed 50 risk factors in its most recent earnings report. C21 Investments reported the most risks in the “Finance & Corporate” category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

C21 Investments Peers Comparison

Overall Rating

UnderperformOutperform

Sector (54)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CXXIF		$17.55M	―	-13.58%	―	―	―
Sector *	54 Neutral	$5.31B	3.28	-45.10%	2.80%	16.76%	0.02%
MILFF		$17.64M	18.83	6.18%	―	―	―
ROMJF		$20.79M	―	-2.68%	―	―	―
VEXTF		$23.53M	―	-24.12%	―	―	―
AVCNF		$22.89M	―	-203.40%	―	―	―
GWAY	44 Neutral	C$26.31M	―	-31.24%	―	44.21%	21.93%

* Healthcare Sector Average

Performance Comparison

CXXIF

C21 Investments

0.16

-0.11

-40.74%

MILFF

1CM Inc

0.19

-0.28

-59.57%

ROMJF

Rubicon Organics

0.32

-0.05

-13.51%

VEXTF

Vext Science

0.09

-0.09

-50.00%

AVCNF

Avicanna

0.17

0.00

0.00%

TSE:GWAY

Greenway Greenhouse Cannabis Corp.

0.20

-0.06

-23.08%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.