Canadian Cannabis Producer Cannara Reports 43% YoY Revenue Growth, Boosts Market Share And Profitability

Benzinga · 00:57

Vertically integrated cannabis producerCannara Biotech Inc. (TSXV:LOVE) (OTCQB:LOVFF) (FRA: 8CB0) announced its fourth quarter and full fiscal 2024 financial and operating results on Monday ended Aug. 31.

The Montreal-based company revealed a 43% year-over-year revenue growth in 2024 to CA$82.2 million ($58.8 million).

Gross profit for the full year grew by 32% over the same period, reaching CA$27.9 million, with a gross margin of 34% before fair value adjustments.

Positive operating cash flow increased by 81% to CA$10.7 million, while free cash flow turned positive at CA$3.2 million, a CA$7.2 million turnaround from 2023.

"Fiscal 2024 was a transformative year for Cannara, showcasing the resilience...

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Canadian Cannabis Producer Cannara Reports 43% YoY Revenue Growth, Boosts Market Share And Profitability

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