Cannara Biotech Reports 6% YoY Drop In Q3 Gross Profit, 22% Revenue Increase As It Enhances Sales Force And Infrastructure
Cannara Biotech Reports 6% YoY Drop In Q3 Gross Profit, 22% Revenue Increase As It Enhances Sales Force And Infrastructure
Vertically integrated cannabis company Cannara Biotech Inc. (TSXV:LOVE) (OTCQB:LOVFF) (FRA: 8CB0) announced its fiscal third quarter 2024 financial and operating results on Tuesday for the three month period ended May 31, 2024.
大麻股垂直整合公司Cannara Biotech Inc.（TSXV：LOVE）（OTCQB：LOVFF）（FRA：8CB0）周二宣布了其2024财年第三季度的财务和经营成果，该季度结束于2024年5月31日。净收入达到1950万加元（1420万美元），较去年同期增长22.6%。
Zohar Krivorot, Cannara's president and CEO, praised the company's "strong performance," during the period, with net revenues reaching CA$19.5 million ($14.2 million) during the quarter, representing a 22.6% year-over-year increase.
Cannara的总裁兼首席执行官Zohar Krivorot赞扬了这一时期的“强劲业绩”，净收入在这一季度达到了1950万加元（1420万美元），同比增长22.6%。
"Historically, our sales growth has been driven by great customer loyalty and strong demand for our products, amplified by organic word-of-mouth promotion," Krivorot explained. "However, as indicated by our flat quarter-to-quarter results, this can only take us so far. To continue our expansion across the country, we have begun enhancing our sales force and infrastructure."
Krivorot解释说：“历史上，我们的销售增长是由于极好的客户忠诚度和对我们产品的强烈需求，加上有机口碑宣传的推动。然而，正如我们季度营收持平所显示的那样，这样的增长只能带我们走这么远。为了在全国范围内继续扩展，我们已经开始加强销售团队和制造行业的基础设施。”
Read Also: Cannara Biotech Reports 51% YoY Revenue Increase In Q2, Wider Net Loss
Cannara Biotech报告显示，其第二季度营收同比增长51%，净亏损趋缩。
Q3 2024 Financial Highlights
2024年Q3财务亮点：
- Gross profit, before fair value adjustments, decreased to CA$5.7 million from CA$6.1 million in the prior year's quarter, representing a 6.1% year-over-year decline.
- Gross profit percentage before fair value adjustments was 29% compared to 38% in the corresponding quarter of 2023.
- Operating income totaled CA$3.6 million compared to CA$4.3 million in the same period of fiscal 2023.
- Net income of CA$2 million compared to CA$2.9 million in the prior year's period.
- Adjusted EBITDA came in positive at CA$2.8 million, compared to CA$3.9 million adjusted EBITDA gain in the prior year's period.
- The company generated operating cash flow amounting to CA$4.3 million compared to CA$2.5 million in the third quarter of last year, representing a year-over-year increase of 72%.
- Free cash flow increased to CA$1.2 million from CA$37,000 in the third quarter of 2023.
- Generated earnings per share of CA$0.02 compared to CA$0.03 in the prior year's period.
- 毛利润（公允价值调整前）从去年同期的610万加元下降至570万加元，同比下降了6.1%。
- 公允价值调整前的毛利润率为29%，低于2023年同期的38%。
- 营业收入为360万加元，低于2023财年同期的430万加元。
- 净利润为200万加元，低于去年同期的290万加元。
- 调整后的EBITDA为280万加元，高于去年同期的390万加元。
- 公司在本财年第三季度实现了430万加元的经营现金流，同比增长72%。
- 自由现金流从2023财年第三季度的37,000加元增至120万加元。
- 每股收益为0.02加元，低于去年同期的0.03加元。
Q3 2024 Operational Highlights
2024年第三季度运营亮点
- Expansion in Manitoba, Canada;
- Successful launch of three new genetics for Cannara's House of Brands;
- Sale of a parcel of land at Valleyfield site;
- Cannara enters East Coast recreational market with the 4/20-themed offer with NSLC; and
- Continued expansion in Quebec and other provinces.
- 在加拿大的曼尼托巴省扩张；
- Cannara品牌的三种新基因的成功推出；
- 在Valleyfield地区出售一块土地；
- Cannara与NSLC合作进入东海岸娱乐市场，并提供420主题促销活动；
- 在魁北克和其他省份继续扩张。
- Cannara Biotech Q1 Results: Revenue, Net Income And Market Share Up, Quarter Also Marks Company's First Export Sale
- Cannara Biotech第一季度业绩：营收、净利润和市场份额均创新高，季度也标志着公司首次出口销售。
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