Auxly Cannabis Group Inc T.XLY

Oh WOW !! Amazing Blowout Q3 for Auxly !! Congrats :) $$$$$

[1hot-techwoman]

Q3 2024 Highlights and Subsequent Events

• The Company continues to outperform, delivering another record-breaking quarter of financial results across key metrics of revenue, margin and adjusted EBITDA;
• Established a new all-time record in net revenues of $33.3 million, an increase of 18% year-over-year and 14% quarter-over-quarter;
• Set a new all-time record in Gross Margin on Finished Cannabis Inventory Sold1 of 47% in the quarter, an improvement of 17% year-over-year;
• SG&A continued to remain substantially flat quarter-over-quarter, with a notable 16% decrease year-over-year;
• Fifth consecutive quarter of positive adjusted EBITDA1, achieving a new all-time record of $8.3 million, representing a 60% quarter-over-quarter increase and a remarkable 6,982% increase compared to the same period in 2023;
• Net income of $3.2 million and cash flow provided by operating activities of $12.9 million;
• The Company continued to make improvements to its balance sheet by reducing its debt1, by 54% compared to the end of 2023, including repaying the outstanding principal on the Company's standby financing facility;
• The Company saw improvements in its overall national market share, moving into the #4 LP position in national recreational sales for the quarter2;
• Market leadership in the all-in-one vape category, securing over 36% of the total market share in the category and 50% of the top 10 vape SKU positions nationally;
• Back Forty's Liquid Imagination 28g SKU continued to win with consumers, ending the quarter as the #1 selling flower nationally;
• The Company's pre-roll product suite saw a 19% increase in national sales compared to the previous quarter with Back Forty's Wedding Pie and Banana OG, securing the #3 and #4 position respectively, in national non-infused pre-roll sales for the quarter.

Hugo Alves, CEO of Auxly, commented: "Our continued focus on efficient revenue growth and enhanced profitability has delivered another record-breaking quarter of financial results, highlighted by an 18% year-over-year increase in net revenue and record adjusted EBITDA of $8.3 million. Our commitment to providing consumers with exceptional products that help them live happier lives enabled us to grow national market share in our core product categories of dried flower, pre-rolls and vapes; and has elevated Back Forty to the #1 brand in Ontario by dollars sold. We remain focused on creating long-term shareholder value. I am excited for the future and proud of the tremendous efforts of our talented and dedicated team in delivering these results."



If this doesnt get you excited about Auxlys future I dont know what does :)

Congrats :)
 

[1hot-techwoman]

Auxly has finally turned the corner and now is printing money and growing :) $$$$ Time to go long now :) Too many good things coming in near future !! GLTA :)