Shares of New Age Beverages Corp. /zigman2/quotes/200595917/composite NBEV +3.11% fell 0.7% in premraket trading Monday, after the Denver-based medical cannabis and wellness beverages company reported a more-than 4-fold increase in fourth-quarter sales, but missed expectations, while losses widened. The net loss was $66.0 million, or 83 cents a share, after a loss of $2.6 million, or 4 cents a share, in the year-ago period. The results included a $44.9 million impairment charge. Revenue rose to $59.2 million from $14.0 million, but was below the FactSet consensus of $66.2 million. Gross margin improved to 54.3% from 23.0%, while gross profit grew 10-fold to $32.2 million. "I believe we are well positioned for 2020 following our business transformation during 2019," said Chief Financial Officer Gregory Gould. "We have a strong balance sheet with over $60 million of cash and over $250 million in assets with less than $30 million of debt, as well as a scale and revenue base that is almost five times the size we were in the prior year." The stock has lost 21.5% over the past three months through Friday, while the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ -0.52% has dropped 41.0% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.64% has shed 15.1%.