Deveron Corp V.FARM

Deveron Reports 236% Annual Revenue Growth

[Betteryear2]

Toronto, Ontario--(Newsfile Corp. - April 28, 2023) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture service and data company in North America, is pleased to announce its Fiscal Year 2022 annual audited and Q4 results. Fiscal Year 2022 revenue grew 236% to $28,923,133 from $8,598,475 in 2021, while the adjusted EBITDA* loss improved to $(827,268) in 2022 from $(3,328,280) in 2021. In Q4/2022, adjusted EBITDA* totaled $4,815,798 compared to an adjusted EBITDA* loss of $(593,096) in Q4 2021. Revenue for Q4/2022 grew 237% to $15,143,300 from $4,491,103 in Q4/2021. Deveron's net income totaled $3,975,838 in Q4/2022 compared to a net loss of $(1,388,777) in Q4/2021.

Deveron Reports 236% Annual Revenue Growth and $4.8 Million Adjusted EBITDA* in Q4 2022 (newsfilecorp.com)

[lscfa]

Acquistions are hiding the seasonal nature of the business....Do not extrapolate q4 to annualized no.

[RockLobster1]

I dont think there is any hiding, hopefully we all know farming is seasonal.  But the comparison of Q to Q and year to year is showing the huge increase in growth, without suffering margin damage while bringing in the huge amount of acquisitions, which I think is impressive.  As they consolidate and increase their sales margins should improve. Overall looks great, the markets are