With that I feel Imperial Brands which now ows 19.8 % of Auxly ( .81 per share they paid) will buy us out down the road as USA become legal !! :) $
AUXLY REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS AND PROVIDES OUTLOOK FOR 2024
PR Newswire
TORONTO, March 25, 2024
TORONTO, March 25, 2024 /PRNewswire/ -
Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company") a leading consumer packaged goods company in the cannabis products market, today released its financial results for the fourth quarter and full year ended December 31, 2023. These filings and additional information regarding Auxly are available for review on SEDAR at www.sedar.com. All amounts are Canadian dollars except common shares ("Shares") and per Share amounts.
2023 Highlights and Subsequent Events
-- Achieved record net revenues of $101.1 million in 2023, an increase of 7% compared to 2022; -- Fourth quarter net revenues of $26.9 million, a $2.2 million increase YoY; -- Achieved positive adjusted EBITDA1 of $1.5 million and positive cash flow from operations of $8.2 million in 2023, including generating $7.8 million in cash from operating activities in Q4 2023; -- Industry leading margins amongst peers in the adult-use recreational market with Gross Margin on Finished Cannabis Inventory Sold1 of 34% in 2023 and securing 40% in Q4 2023; -- SG&A declined by over 17% compared to the previous year, while the Company continued to enhance and expand its product portfolio; -- Exited 2023 as the 5th largest LP in Canada by share of market based on total recreational retail sales, securing 5% of the total market