DAVIDsTEA Inc.

CIK:0001627606|SEC Filings

INTERIM CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME (Unaudited) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022 CAD ($) $ / shares shares	Oct. 30, 2021 CAD ($) $ / shares shares	Oct. 29, 2022 CAD ($) $ / shares shares	Oct. 30, 2021 CAD ($) $ / shares shares
INTERIM CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME (Unaudited)
Sales	$ 16,176	$ 22,203	$ 51,670	$ 64,195
Cost of sales	9,894	13,587	30,116	36,816
Gross profit	6,282	8,616	21,554	27,379
Selling, general and administration expenses	10,925	10,242	32,784	28,521
Restructuring plan activities, net	0	195	0	(76,964)
Results from operating activities	(4,643)	(1,821)	(11,230)	75,822
Finance costs	194	71	532	104
Finance income	(120)	(28)	(236)	(118)
Net income (loss) before income taxes	(4,717)	(1,864)	(11,526)	75,836
Recovery of income taxes	0	0	0	(1,000)
Net (loss) income	(4,717)	(1,864)	(11,526)	76,836
Other comprehensive income:
Cumulative translation adjustment	286	(13)	316	999
Other comprehensive income, net of tax	286	(13)	316	999
Total comprehensive (loss) income	$ (4,431)	$ (1,877)	$ (11,210)	$ 77,835
Net (loss) earnings per share:
Basic \| (per share)	$ (0.18)	$ (0.07)	$ (0.44)	$ 2.92
Fully diluted \| (per share)	$ (0.18)	$ (0.07)	$ (0.44)	$ 2.79
Weighted average number of shares outstanding:
Basic 1 \| shares	26,566,441	26,359,969	26,493,484	26,300,289
Fully diluted 2 \| shares	26,566,441	26,359,969	26,493,484	27,584,128

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - CAD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
OPERATING ACTIVITIES
Net (loss) income	$ (4,717)	$ (1,864)	$ (11,526)	$ 76,836
Items not affecting cash:
Depreciation of property and equipment	90	398	254	1,193
Amortization of intangible assets	138	403	415	1,290
Amortization of right-of-use assets	656	242	1,975	536
Impairment of property and equipment and right-of-use assets	258	0	258	0
Gain on liabilities subject to compromise, including the recovery of income taxes	0	0	0	(79,861)
Interest on lease liabilities	156	50	490	83
Amortization of Financing Fees	31	0	31	0
Stock-based compensation expense	355	392	1,063	937
Sub-total	(3,033)	(379)	(7,040)	1,014
Net change in non-cash working capital balances related to operations	869	1,932	463	(17,233)
Cash flows (used in) provided by operating activities	(2,164)	1,553	(6,577)	(16,219)
FINANCING ACTIVITIES
Payment of lease liabilities	(753)	(237)	(2,271)	(559)
Cash flows used in financing activities	(753)	(237)	(2,271)	(559)
INVESTING ACTIVITIES
Additions to property and equipment	0	0	(128)	(52)
Cash flows used in investing activities	0	0	(128)	(52)
(Decrease) increase in cash during the period	(2,917)	1,316	(8,976)	(16,830)
Cash, beginning of the period	19,048	12,051	25,107	30,197
Cash, end of the period	16,131	13,367	16,131	13,367
Cash paid for:
Interest (other than lease liabilities)	0	0	0	0
Income taxes (classified as operating activity)	0	0	0	0
Cash received for:
Interest	92	7	203	101
Income taxes (classified as operating activity) 1	$ 0	$ 0	$ 0	$ 0

INTERIM CONSOLIDATED BALANCE SHEETS - CAD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022
Current
Cash	$ 16,131	$ 25,107
Accounts and other receivables	3,937	3,209
Inventories	29,985	31,048
Prepaid expenses and deposits	6,137	4,142
Total current assets	56,190	63,506
Property and equipment	576	775
Intangible assets	1,818	2,234
Right-of-use assets	9,990	12,087
Total assets	68,574	78,602
Current
Trade and other payables	14,445	12,300
Deferred revenue	5,472	5,434
Current portion of lease liabilities	2,540	2,364
Total current liabilities	22,457	20,098
Non-current portion of lease liabilities	8,290	10,189
Total liabilities	30,747	30,287
Equity
Share capital	113,892	113,534
Contributed surplus	2,838	2,507
Deficit	(82,164)	(70,671)
Accumulated other comprehensive income	3,261	2,945
Total equity	37,827	48,315
Total liabilities and equity	$ 68,574	$ 78,602