- Medreleaf Corp (OTCPK:MEDFF +4.2%) reports Q4 revenue growth of 15.9% Y/Y to C$12M, the growth was the result of increased production capacity, patient demand, yield improvements, and the continued growth of cannabis oil extracts for sale.
- 1,425 adj. kilograms (+19% Y/Y) of cannabis products were sold at an average selling price of C$8.43 per adj. gram (-2.7% Y/Y).
- Adj. EBITDA loss of C$4.7M, a decrease was due to increased overhead costs and investments in recreational brands, international business initiatives, and increased R&D efforts.
- Adj. cash cost per gram sold of C$1.4 (-6% Y/Y), a decrease was due to increased production and yield improvements that resulted in improved efficiencies in labour utilization and allocation of fixed costs.
- Adj. product contribution margin was C$8.5M (+14.9% Y/Y) & Adj. product contribution margin per gram sold of C$5.94 (-3.9% Y/Y).
- The company introduced Equiposa, Orellium and Trutiva – three proprietary varieties of premium medical cannabis developed by MedReleaf 's internal R&D program.
- Also, entered into an exclusive licensing agreement with Woodstook Cannabis Company for the use of the iconic Woodstock brand in the Canadian cannabis market.
- Signed an agreement to become the largest supplier to Cannamedical Pharma GmbH, a leading medical cannabis distributor in Germany with a network of over 1,800 pharmacies.
- Cash and equivalents of C$215.9M and working capital of C$255.7M
- Capex was C$40.9M primarily put towards production rooms, building improvements, furniture and other equipment related to the construction and development of the Bradford Facility.
- Previously: Medreleaf Corp. reports Q4 results (June 19)
- Now read: Hydropothecary: The Quebec Cannabis King
Original article