International Expansion Still Major Growth Driver For Canadian Cannabis Co. Avant, Reports 4% YoY Increase In Q2 Net Revenue
International Expansion Still Major Growth Driver For Canadian Cannabis Co. Avant, Reports 4% YoY Increase In Q2 Net Revenue
Cannabis producer Avant Brands Inc. (TSX:AVNT) (OTCQX:AVTBF) (FRA: 1BUP) reported its financial results on Monday for the second quarter ended May 31, 2024.
大麻生产商AVNT品牌公司 (tsx:AVNT) (otcqx:AVTBF) (fra:1BUP) 于周一发布了截至2024年5月31日第二季度的财务业绩报告。
The British Columbia-based company said in a press release that it has achieved "significant financial milestones driven by strategic international expansion and operational improvements."
这家位于不列颠哥伦比亚省的公司在新闻稿中表示，通过战略性国际扩张和运营改进，已实现“重要的财务里程碑”。
Q2 2024 Financial Highlights
2024年第二季度财务业绩亮点
- Gross revenue increased by 5% reaching CA$9.4 million ($6.8 million) compared to the second quarter of 2023, while net revenue rose by 4% over the same period to CA$8.3 million, demonstrating sustained growth driven by robust international demand.
- International sales rose 26% year-over-year to reach a record CA$3.7 million, now representing 45% of net revenue.
- Gross loss amounted to CA$1.8 million, compared to a gross profit of CA$3.3 million in the prior year's quarter.
- Net loss from operations was roughly CA$5 million, compared to a net income of CA$265 000 in the second quarter of fiscal 2023.
- Net loss and comprehensive loss was CA$3.7 million, compared to a CA$390 000 net loss in the corresponding quarter of 2023.
- Achieved positive adjusted EBITDA of CA$2.8 million.
- As of May 31, 2024, the company had CA$74.4 million in total assets, compared to CA$82.5 million as of Nov. 30, 2023.
- Total liabilities amounted to CA$28.4 million as of May 31, 2024, compared to CA$33.2 million as of Nov. 30, 2023.
- 毛收入达到940万加元 (680万美元)，比2023年第二季度增长了5%，而净营收在同期增长了4%，达到830万加元，表明受强劲的国际需求推动，持续增长。
- 国际销售同比增长26%，达到创纪录的370万加元，现在占净营收的45%。
- 毛利润亏损达到180万加元，而去年同期毛利润为330万加元。
- 运营净亏损约500万加元，而2023财年第二季度净利润为26.5万加元。
- 净亏损及综合亏损为370万加元，而2023年同期净亏损为39万加元。
- 获得了280万加元的正调整EBITDA。
- 截至2024年5月31日，该公司总资产为7440万加元，而2023年11月30日为8250万加元。
- 截至2024年5月31日，总负债为2840万加元，而在2023年11月30日为3320万加元。
Read Also: International Expansion Drives Growth For This Canadian Cannabis Producer As It Reports Record Q1 Revenue
国际扩张推动这家加拿大大麻生产商创下盈收记录
"Avant Brands is on a strong trajectory, and our Q2 2024 results demonstrate the effectiveness of our strategic initiatives. We are capitalizing on the growing international demand for premium cannabis products, while also achieving record profitability," Norton Singhavon, the company's founder and CEO, said. "With a focus on international markets and operational excellence, we are well-positioned for long-term success."
该公司创始人兼首席执行官Norton Singhavon表示：“品牌公司的未来发展前景良好，我们2024年第二季度的业绩结果证明了我们的战略举措的有效性。我们正在利用不断增长的国际高端大麻产品需求，并实现创纪录的盈利能力。通过专注于国际市场及运营卓越，我们将打造长期成功。”
Fiscal 2024 Outlook
2024财年展望
The company said it has undertaken a total of nine international agreements fiscal year to date, with products already shipped to one client and shipments pending for a further five clients.
该公司表示，截至本财年共签署了9份国际协议，已经向一家客户发货，并为另外五家客户待发货。
These new clients represent near-term growth potential spanning territories such as Australia, Germany and Israel, along with new opportunities developing in the Czech Republic, Poland, Portugal, Switzerland and the UK.
这些新客户代表着潜在的近期增长机会，涵盖了澳大利亚、德国和以色列等地区，以及捷克共和国、波兰、葡萄牙、瑞士和英国等地的新机会。
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To learn more about cannabis stocks, come, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
要了解更多有关大麻股票的信息，请访问Benzinga第19届大麻资本会议，活动于10月8日至9日在芝加哥举行。立即通过以下链接获取门票，避免票价上涨。