New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 2.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.9% per year over the past 5 years. Market cap is less than US$10m (CA$9.83m market cap, or US$7.21m). Reported Earnings • Feb 27
Third quarter 2026 earnings released Third quarter 2026 results: Revenue: CA$8.24m (up 28% from 3Q 2025). Net loss: CA$135.1k (down 128% from profit in 3Q 2025). Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Beverage industry in North America. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 21
Second quarter 2026 earnings released: CA$0.004 loss per share (vs CA$0.003 profit in 2Q 2025) Second quarter 2026 results: CA$0.004 loss per share (down from CA$0.003 profit in 2Q 2025). Revenue: CA$8.45m (up 9.5% from 2Q 2025). Net loss: CA$16.5k (down 109% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Board Change • Oct 21
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Director Vince Timpano was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 27
Diamond Estates Wines & Spirits Inc., Annual General Meeting, Oct 30, 2025 Diamond Estates Wines & Spirits Inc., Annual General Meeting, Oct 30, 2025. Reported Earnings • Feb 21
Third quarter 2025 earnings released: EPS: CA$0.01 (vs CA$0.14 loss in 3Q 2024) Third quarter 2025 results: EPS: CA$0.01 (up from CA$0.14 loss in 3Q 2024). Revenue: CA$6.41m (down 12% from 3Q 2024). Net income: CA$483.4k (up CA$5.65m from 3Q 2024). Profit margin: 7.5% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 48% per year, which means it is performing significantly worse than earnings. New Risk • Jan 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Market cap is less than US$10m (CA$13.4m market cap, or US$9.34m). Reported Earnings • Nov 29
Second quarter 2025 earnings released: EPS: CA$0.003 (vs CA$0.084 loss in 2Q 2024) Second quarter 2025 results: EPS: CA$0.003 (up from CA$0.084 loss in 2Q 2024). Revenue: CA$7.72m (flat on 2Q 2024). Net income: CA$190.4k (up CA$2.54m from 2Q 2024). Profit margin: 2.5% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. New Risk • Nov 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.7m (US$9.78m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 30% per year over the past 5 years. Market cap is less than US$10m (CA$13.7m market cap, or US$9.78m). Minor Risk Shareholders have been diluted in the past year (36% increase in shares outstanding). Reported Earnings • Aug 23
First quarter 2025 earnings released: CA$0.04 loss per share (vs CA$0.088 loss in 1Q 2024) First quarter 2025 results: CA$0.04 loss per share (improved from CA$0.088 loss in 1Q 2024). Revenue: CA$6.17m (down 22% from 1Q 2024). Net loss: CA$2.02m (loss narrowed 18% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Announcement • Jul 18
Diamond Estates Wines & Spirits Inc. announced that it has received CAD 2.293213 million in funding from 3346625 Canada Inc., Lassonde Industries Inc. On July 17, 2024. Diamond Estates Wines & Spirits Inc. closed the transaction. The company now issued 11,466,065 common shares at an issue price of CAD 0.20 per common share, for aggregate gross proceeds of CAD 2,293,213. The transaction included participation from Lassonde Industries Inc. for 7,500,000 common shares and 3346625 Canada Inc., a corporation controlled by Pierre-Paul subscribed for 1,500,000 common shares. All common shares sold pursuant to the offering are subject to a four-month hold period, which expires on Nov. 18, 2024. The offering has received conditional approval from the TSX-V and is subject to receipt of final approval by the TSX-V. Announcement • Jul 17
Diamond Estates Wines & Spirits Inc., Annual General Meeting, Sep 26, 2024 Diamond Estates Wines & Spirits Inc., Annual General Meeting, Sep 26, 2024. New Risk • Jul 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Market cap is less than US$10m (CA$9.61m market cap, or US$7.05m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Announcement • Jul 09
Diamond Estates Wines & Spirits Inc. announced that it expects to receive CAD 2.3 million in funding from 3346625 Canada Inc., Lassonde Industries Inc. Diamond Estates Wines & Spirits Inc. announced a non-brokered private placement of up to 11,500,000 common shares at a price of CAD 0.20 per share for the gross proceeds of CAD 2,300,000 on July 8, 2024. The transaction will include participation from returning investors, 3346625 Canada Inc., Lassonde Industries Inc. It is anticipated that the offering will close on or about July 16, 2024. The issuance of the shares will be subject to satisfaction of certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including approval by the TSX Venture Exchange. The shares will be subject to a hold period of four months and one day from their date of the issuance. Reported Earnings • Jul 07
Full year 2024 earnings released: CA$0.30 loss per share (vs CA$0.31 loss in FY 2023) Full year 2024 results: CA$0.30 loss per share. Revenue: CA$28.5m (down 10% from FY 2023). Net loss: CA$10.7m (loss widened 25% from FY 2023). Reported Earnings • Feb 25
Third quarter 2024 earnings released: CA$0.14 loss per share (vs CA$0.042 loss in 3Q 2023) Third quarter 2024 results: CA$0.14 loss per share (further deteriorated from CA$0.042 loss in 3Q 2023). Revenue: CA$7.32m (down 20% from 3Q 2023). Net loss: CA$5.16m (loss widened 338% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 52% per year whereas the company’s share price has fallen by 48% per year. Reported Earnings • Nov 24
Second quarter 2024 earnings released: CA$0.08 loss per share (vs CA$0.049 loss in 2Q 2023) Second quarter 2024 results: CA$0.08 loss per share (further deteriorated from CA$0.049 loss in 2Q 2023). Revenue: CA$7.77m (down 16% from 2Q 2023). Net loss: CA$2.35m (loss widened 72% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. New Risk • Nov 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 72% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Market cap is less than US$10m (CA$12.4m market cap, or US$9.10m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Nov 15
Diamond Estates Wines & Spirits Inc. announced that it has received CAD 9 million in funding from Lassonde Industries Inc. On November 14, 2023, Diamond Estates Wines & Spirits Inc. closed the transaction. The company issued 20,000,000 common shares at an issue price of CAD 0.45 per common share, for an aggregate purchase price of CAD 9,000,000. The investor will subscribe for 18,333,334 common shares at an issue price of CAD 8,250,000.3 which will involve the conversion of the CAD 750,000 principal amount. The Financing and the Settlement remain subject to the final acceptance of the TSXV. The securities issued pursuant to the Financing and the Settlement will be subject to a four-month hold period under applicable Canadian securities laws. Announcement • Aug 17
Diamond Estates Wines & Spirits Inc. announced that it expects to receive CAD 9 million in funding from Lassonde Industries Inc. Diamond Estates Wines & Spirits Inc. announced that it has signed non-binding term sheet and non-brokered private placement with returning investor Lassonde Industries Inc. to issue 20,000,000 common shares at an issue price of CAD 0.45 per unit for the gross proceeds of CAD 9,000,000 on August 16, 2023. The investor would subscribe for 18,333,333 shares at an issue price of CAD 0.45 per share for the gross proceeds of CAD 8,249,999.85 and converting the CAD 750,000 principal amount under the advance agreement between the Company and Lassonde Industries. Reported Earnings • Aug 02
Full year 2023 earnings released: CA$0.31 loss per share (vs CA$0.11 loss in FY 2022) Full year 2023 results: CA$0.31 loss per share (further deteriorated from CA$0.11 loss in FY 2022). Revenue: CA$31.7m (up 5.8% from FY 2022). Net loss: CA$8.53m (loss widened 245% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Announcement • Jul 23
Diamond Estates Wines & Spirits Inc., Annual General Meeting, Sep 06, 2023 Diamond Estates Wines & Spirits Inc., Annual General Meeting, Sep 06, 2023. Reported Earnings • Mar 01
Third quarter 2023 earnings released: CA$0.04 loss per share (vs CA$0.085 profit in 3Q 2022) Third quarter 2023 results: CA$0.04 loss per share (down from CA$0.085 profit in 3Q 2022). Revenue: CA$9.11m (up 8.5% from 3Q 2022). Net loss: CA$1.18m (down 158% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 25
Second quarter 2023 earnings released: CA$0.049 loss per share (vs CA$0.052 loss in 2Q 2022) Second quarter 2023 results: CA$0.049 loss per share. Revenue: CA$9.22m (up 29% from 2Q 2022). Net loss: CA$1.37m (loss widened 32% from 2Q 2022). Announcement • Nov 10
Diamond Estates Wines & Spirits Inc. announced that it has received CAD 4.884 million in funding from 3346625 Canada Inc., Lassonde Industries Inc. On November 9, 2022, Diamond Estates Wines & Spirits Inc. closed the transaction. The company has issued 10% unsecured convertible debentures for gross proceeds of CAD 4,884,000. The transaction included participation from 3346625 Canada Inc. for CAD 2,850,000, returning investor Lassonde Industries Inc for CAD 500,000. Announcement • Oct 26
Diamond Estates Wines & Spirits Inc. announced that it expects to receive CAD 5 million in funding Diamond Estates Wines & Spirits Inc. announced a non-brokered private placement of unsecured convertible debentures for gross proceeds of up to CAD 5 million on October 24, 2022. The debentures bear interest at 10% per annum, and will mature one year from their date of issuance unless the holder requests to accelerate the maturity date in the event the company completes an equity financing within the next 12 months. The debentures are convertible at the holder’s option from the date of issuance until the maturity date at a conversion price of CAD 0.80. The transaction is expected to close on or about November 2, 2022, subject to customary closing conditions, including approval from the TSX Venture Exchange. All securities issued are subject to a four-month hold period expiring four months and one day from their date of issuance. The closing of the transaction remains subject to the acceptance of the TSXV. Announcement • Sep 29
Diamond Estates Wines & Spirits Inc. Approves the Election of Directors Diamond Estates Wines & Spirits Inc. approved the election of Claude Gilbert and Ron McEachern as directors, at the annual general and special meeting of shareholders held on September 29, 2022. Reported Earnings • Aug 02
Full year 2022 earnings released: CA$0.11 loss per share (vs CA$0.13 loss in FY 2021) Full year 2022 results: CA$0.11 loss per share (up from CA$0.13 loss in FY 2021). Revenue: CA$30.0m (up 17% from FY 2021). Net loss: CA$2.47m (loss narrowed 6.2% from FY 2021). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jul 19
Diamond Estates Wines & Spirits Inc., Annual General Meeting, Sep 28, 2022 Diamond Estates Wines & Spirits Inc., Annual General Meeting, Sep 28, 2022. Announcement • Apr 01
Diamond Estates Wines & Spirits Appoints Andrew Howard as Chief Operating Officer, Effective April 1, 2022 Diamond Estates Wines & Spirits Inc. announced the appointment of Andrew Howard as Chief Operating Officer for Diamond Estates Wines & Spirits Inc. effective April 1, 2022. Andrew has been part of the Company’s senior management team since the acquisition of Equity Wine Group in the fall of 2021. Prior to joining Diamond Estates, Andrew was President of Equity Wine Group which produced high-quality VQA wines, including the Creekside and Queenston Mile brands, through its facilities in the Niagara Region, close to Diamond’s Lakeview location. Andrew will be dedicated to the management of the domestic wine business in which the Company sees significant opportunities for profitable growth and expansion. Andrew will work closely with Diamond Estates’ President & CEO, Murray Souter, and CFO, Ryan Conte, to ensure the Company is achieving maximum efficiencies in the markets in which it participates. Reported Earnings • Mar 04
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: CA$0.08 (up from CA$0.024 loss in 3Q 2021). Revenue: CA$8.39m (up 21% from 3Q 2021). Net income: CA$2.02m (up CA$2.50m from 3Q 2021). Profit margin: 24% (up from net loss in 3Q 2021). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed estimates. Over the next year, revenue is forecast to grow 27%, compared to a 7.1% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 27
Second quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2022 results: CA$0.005 loss per share (up from CA$0.019 loss in 2Q 2021). Revenue: CA$7.14m (flat on 2Q 2021). Net loss: CA$1.04m (loss widened 173% from 2Q 2021). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) missed analyst estimates. Earnings per share (EPS) were behind analyst estimates. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Executive Departure • Oct 06
Independent Director Eric Gemme has left the company On the 29th of September, Eric Gemme's tenure as Independent Director ended after 2.0 years in the role. We don't have any record of a personal shareholding under Eric's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 8.08 years. Price Target Changed • Sep 01
Price target increased to CA$0.22 Up from CA$0.20, the current price target is provided by 1 analyst. New target price is 29% above last closing price of CA$0.17. Stock is up 21% over the past year. Reported Earnings • Aug 27
First quarter 2022 earnings released: CA$0.002 loss per share (vs CA$0.002 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: CA$7.38m (up 24% from 1Q 2021). Net loss: CA$354.1k (loss narrowed 2.3% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Announcement • Aug 07
Diamond Estates Wines & Spirits Inc. (TSXV:DWS) agreed to acquire Equity Wine Group Inc. Diamond Estates Wines & Spirits Inc. (TSXV:DWS) agreed to acquire Equity Wine Group Inc. from Stonechurch Vineyards and Winery Holdings Inc. on August 5, 2021. The consideration includes, CAD 1.5 million in cash payable on closing, subject to a working capital adjustment, CAD 5.5 million in common shares of Diamond Estates Wines & Spirits payable on closing, 22,916,667 share purchase warrants each entitling the holder to acquire three quarters common share of the Company at an exercise price of CAD 0.22 for a period of 36 months from their date of issuance and valued at CAD 476,667 under Black-Scholes and the assumption of the Equity Wine's term and line-of-credit debt of approximately CAD 4.1 million with the Bank of Montreal. The Equity Consideration Shares will be issued at a deemed price of CAD 0.18 per share. The Equity Consideration Shares will be subject to certain contractual restrictions on trading for a period of 12 months from the date of issuance with equal portions being released from escrow every quarter. The agreement ensures Stonechurch will continue to produce our popular cider on behalf of Diamond and will support future expansion and growth. In related transaction Diamond Estates Wines & Spirits Inc. agreed to acquire Shiny Apple craft cider brand from Stonechurch Vineyards and Winery Holdings Inc. The Equity Cash Payment will be paid from a portion of the cash proceeds raised from the Financing. Completion of the Acquisitions will be dependent on Diamond raising a minimum total of CAD 8.5 million in equity through private placements. The Financing will consist of up to 47,223,000 units at CAD 0.18 per Unit with each Unit consisting of one common share and three-quarters of one common share purchase warrant, Each Warrant will be exercisable at CAD 0.22 per common share for 36 months following the closing of the Financing. The acquisitions are subject to the execution of definitive agreements and customary closing conditions including of the approval of the TSX Venture Exchange and Bank of Montreal. Diamond Estates Wines & Spirits expects to close the Acquisitions on or around September 10, 2021. The transaction is expected to be highly accretive to Diamond's current business, capture additional revenues, create brand expansion, further leverage the Diamond Estates Wines & Spirits infrastructure and deliver on cost saving synergies. Both transactions will result in a significant accretion in Diamond Estates Wines & Spirits EBITDA, and are expected to generate an incremental CAD 30 million in gross revenue and CAD 9 million in incremental EBITDA over the four-year period ending in fiscal 2025. Announcement • Aug 06
Diamond Estates Wines & Spirits Inc. announced that it expects to receive CAD 8.50014 million in funding Diamond Estates Wines & Spirits Inc. announced a brokered private placement up to 47,223,000 units at a price of CAD 0.18 per unit to raise gross proceeds of CAD 8,500,000 on best efforts basis on August 5, 2021. Each unit is comprised of one common share and 0.75 share purchase warrant. Each warrant will entitle the holder to acquire an additional common share of the company at an exercise price of CAD 0.22 per share for a period of three years from the closing date of the private placement. The Company has granted the Agent to sell up to that number of additional Units equal to 15% of the base Financing, at the Issue Price, exercisable up to 48 hours prior to the closing of the Financing. The Units will be sold to accredited investors in Canada and in the U.S. in compliance with applicable securities laws. Certain shareholders and insiders of the Company may participate in the Financing. All securities issued in connection with the Financing are subject to a four-month hold period from the closing of the transaction. The transaction is subject to TSX Venture Exchange approval. Reported Earnings • Jul 24
Full year 2021 earnings released: CA$0.013 loss per share (vs CA$0.023 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: CA$25.6m (down 4.6% from FY 2020). Net loss: CA$2.64m (loss narrowed 37% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 19% per year. Breakeven Date Change • Jul 24
No longer forecast to breakeven The 2 analysts covering Diamond Estates Wines & Spirits no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$100.0k in 2022. New consensus forecast suggests the company will make a loss of CA$400.0k in 2022. Announcement • Jun 11
Diamond Estates Wines & Spirits Inc. announced that it has received $1.83 million in funding from Lassonde Industries Inc., Oakwest Corporation Limited Diamond Estates Wines & Spirits Inc. (TSXV:DWS) announced a non-brokered private placement of CAD 1,830,000 aggregate principal amount of 10% unsecured convertible debentures on July 10, 2021. The transaction included participation from certain insiders of the company, including existing investors Oakwest Corporation Limited and Lassonde Industries Inc. (TSX:LAS.A) which purchased CAD 1,160,000. The debentures bear interest from the date of issue at 10.0% per annum, calculated monthly, in arrears. The interest accrues on the principal outstanding under the debentures until such principal is repaid or converted. The debentures will mature on July 2, 2023, unless the holder requests to accelerate the maturity date in the event the company completes an equity financing for minimum gross proceeds of CAD 2 million within the next 12 months. The debentures are convertible at the holder's option from the date of issuance until the maturity date at a conversion price of CAD 0.185. The debentures are also redeemable at the company's option, subject to an early redemption fee during the first 12 months following closing of the offering of an additional 1% interest and, if during the first six months, a minimum six months interest. All securities issued in connection with the offering are subject to a four-month hold period expiring October 11, 2021. The approval of the shareholders of the Company will be sought at the next meeting of shareholders, to be held on or before the date of its 2021 annual meeting of shareholders. Executive Departure • Mar 10
Interim Chief Financial Officer has left the company On the 8th of March, Geoff Kritzinger's tenure as Interim Chief Financial Officer ended after less than a year in the role. We don't have any record of a personal shareholding under Geoff's name. A total of 3 executives have left over the last 12 months. Announcement • Mar 07
Diamond Estates Wines & Spirits Inc. Announces CFO Changes Diamond Estates Wines & Spirits Inc. announced the appointment of Ryan Conte as Chief Financial Officer for Diamond Estates Wines & Spirits Inc. effective March 8, 2021 and subject to the TSX-V exchange approval. Ryan will be replacing Geoff Kritzinger, the Company's Interim CFO for the past 9 months who was able to step in and support the company last year. Ryan joins Diamond from Megalomaniac Wineries a privately held winery located in the Niagara Peninsula where most recently he was the CEO. Prior to his appointment to that position Ryan served as the CFO for Megalomaniac from 2016 to 2018. Ryan's prior experience includes senior managerial positions within Deloitte's Financial Advisory Services practice and executive roles in other private companies. Reported Earnings • Feb 27
Third quarter 2021 earnings released: CA$0.002 loss per share (vs CA$0.007 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses and improved control over expenses, although revenues were flat. Third quarter 2021 results: Revenue: CA$6.96m (flat on 3Q 2020). Net loss: CA$482.8k (loss narrowed 63% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 12%, compared to a 10% growth forecast for the Beverage industry in Canada. Reported Earnings • Nov 28
Second quarter 2021 earnings released: CA$0.002 loss per share The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were flat. Second quarter 2021 results: Revenue: CA$7.19m (flat on 2Q 2020). Net loss: CA$379.0k (loss narrowed 20% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 63% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings.