CANADABIS CAPITAL, WITH SUB STIGMA GROW, ANNOUNCES ANOTHER RECORD FISCAL PERIOD AS Q2 2023 NET INCOME INCREASED 373% YEAR-OVER-YEAR
Canada NewsWire
CALGARY, AB, April 3, 2023
- Positive earnings per share for the second consecutive quarter and fifth consecutive quarter generating net income
- Net income grew 373% over the same period in 2022
- Gross revenue in Q2/23 was the highest since inception at $9.6 million, and grew 23% over Q1/23
- Net revenue grew 124% to a record $6.2 million, while gross profit increased 120% in fiscal Q2/23 compared to the same period in 2022
- Record Adjusted EBITDA1 totaled $1.6 million, an increase of 175% year-over-year
CALGARY, AB, April 3, 2023 /CNW/ - CanadaBis Capital Inc. (the "Company" or "CanadaBis") (TSXV: CANB), a premium vertically integrated Canadian cannabis company, is pleased to announce our second quarter fiscal 2023 results, marking another period of record results for the Company. Growth was driven by a combination of continued sales increases, input cost optimization, and the success of over 100 recently introduced SKUs, positioning CanadaBis to continue the successful execution of our growth strategy. The Company's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") are available on CanadaBis' website and filed on SEDAR at www.sedar.com.