Company Name: Indiva Limited

In Q3-2020, Indiva reported $3M in revenue, up 1,532% YoY, and 18% QoQ, inline with our expectations. The increase was attributed to the introduction of WanaTM Sour Gummies last quarter, partially offset by a 41% QoQ decline in sales of Bhang® Chocolates due to seasonality in chocolate sales, and fewer new additions to the Bhang product line. Sales of gummies were well above our expectations, with $1.23M in revenue in the first month of sales (September), capturing 41% of the quarter’s revenue.

Highlights Indiva Limited (“Indiva”, the “company”) reported Q1-2020 financials, with net revenue...