secwatch.observer — SEC 8-K summary
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Issuer:     Clever Leaves Holdings Inc. (—)
CIK:        0001819615
Form:       8-K
Filed at:   2023-03-30T23:59:59+00:00
Accession:  0001819615-23-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clever Leaves FY2022 revenue $17.8M (+16% YoY), net loss $66.2M; gets Nasdaq bid price extension to Sept 2023
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- FY2022 revenue $17.8M (+16% YoY); cannabinoid revenue $6.1M (+90% YoY). Net loss $66.2M vs $45.7M in 2021.
- Q4 revenue $4.6M (+10% YoY); net loss $28.8M including $23.1M restructuring charge for Portugal wind-down.
- Adjusted EBITDA FY2022 improved to $(23.1)M from $(23.7)M; 2023 guidance: revenue $19-22M, adj. EBITDA $(13.6)M to $(10.6)M.
- Nasdaq granted additional 180-day compliance period until Sept 25, 2023 to meet $1 bid price; may effect reverse stock split.
- Cash and equivalents $12.9M at Dec 31, 2022, down from $37.7M; debt reduced ~94% during 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819615/000181961523000026/0001819615-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819615/000181961523000026/clvr-20230330.htm
  HTML page:      https://secwatch.observer/filing/0001819615-23-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer