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）週二宣佈了其2024財年第三季度的財務和經營成果，該季度結束於2024年5月31日。淨收入達到1950萬加元（1420萬美元），較去年同期增長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的總裁兼首席執行官Zohar Krivorot讚揚了這一時期的“強勁業績”，淨收入在這一季度達到了1950萬加元（1420萬美元），同比增長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解釋說：“歷史上，我們的銷售增長是由於極好的客戶忠誠度和對我們產品的強烈需求，加上有機口碑宣傳的推動。然而，正如我們季度營收持平所顯示的那樣，這樣的增長只能帶我們走這麼遠。爲了在全國範圍內繼續擴展，我們已經開始加強銷售團隊和製造行業的基礎設施。”
Read Also: Cannara Biotech Reports 51% YoY Revenue Increase In Q2, Wider Net Loss
Cannara Biotech報告顯示，其第二季度營收同比增長51%，淨虧損趨縮。
Q3 2024 Financial Highlights
2024年Q3財務亮點：
- 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.
- 毛利潤（公允價值調整前）從去年同期的610萬加元下降至570萬加元，同比下降了6.1%。
- 公允價值調整前的毛利潤率爲29%，低於2023年同期的38%。
- 營業收入爲360萬加元，低於2023財年同期的430萬加元。
- 淨利潤爲200萬加元，低於去年同期的290萬加元。
- 調整後的EBITDA爲280萬加元，高於去年同期的390萬加元。
- 公司在本財年第三季度實現了430萬加元的經營現金流，同比增長72%。
- 自由現金流從2023財年第三季度的37,000加元增至120萬加元。
- 每股收益爲0.02加元，低於去年同期的0.03加元。
Q3 2024 Operational Highlights
2024年第三季度運營亮點
- 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擴張；
- Cannara品牌的三種新基因的成功推出；
- 在Valleyfield地區出售一塊土地；
- Cannara與NSLC合作進入東海岸娛樂市場，並提供420主題促銷活動；
- 在魁北克和其他省份繼續擴張。
- Cannara Biotech Q1 Results: Revenue, Net Income And Market Share Up, Quarter Also Marks Company's First Export Sale
- Cannara Biotech第一季度業績：營收、淨利潤和市場份額均創新高，季度也標誌着公司首次出口銷售。
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.
要了解更多有關大麻股票的信息，請訪問Benzinga第19屆大麻資本會議，活動於10月8日至9日在芝加哥舉行。立即通過以下鏈接獲取門票，避免票價上漲。