Cronos Cannabis Company Slashes Losses, Reports Highest Quarterly Net Revenue In Q1 2024
Cronos Group Inc., (NASDAQ: CRON) a global cannabinoid company, has reported an increase in net revenue for the first quarter of 2024.
Cannabis Edibles Maker Indiva Reports Record Revenue In 2023, Positive EBITDA And Income From Q4 Operations
Canadian cannabis edibles producer Indiva Limited announced on Thursday its financial and operating results for the fourth quarter and fiscal year ended Dec. 31, 2023. For the fourth quarter, the company reported a 53.3% increase year-over-year increase in gross profit before inventory write-down to CA$4.2 million (roughly $3 million). Gross margin before inventory write-down improved to a record 38.5% of net revenue, versus 37.1% in the prior quarter and 29.3% in the prior year's period. Indiva attributed the improvement in gross margin percentage year over year to higher sales, improved operating efficiencies and a positive mix shift toward higher-margin products.
Cannabis Extractor LEEF Brands Sees Stronger Margins And EBITDA In Q1, CEO Explains Why
Vertical cannabis operator LEEF Brands, Inc. (CSE: LEEF) (OTC: LEEEF) announced on Thursday the release of its audited financial statements for the year ended 2023 along with the interim financial statements for the first quarter of fiscal 2024. "I am proud of the team and their performance in the past year and specifically in this quarter," Micah Anderson, the company's CEO, said. "We've seen stronger margins and EBITDA in the first quarter of the year and believe Q1 results are the beginning signs of success stemming from the efforts to reduce redundancies after our merger with Icanic Brands."