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Adastra Holdings Reports Third Quarter Results; Demonstrating Gross Revenues of $8.1m

Adastra Holdings Reports Third Quarter Results; Demonstrating Gross Revenues of $8.1m

Adastra Holdings公佈第三季度業績;顯示總收入爲810萬美元
Accesswire ·  2023/11/30 05:30

LANGLEY, BC / ACCESSWIRE / November 29, 2023/ Adastra Holdings Ltd. (CSE:XTRX) (FRA:D2EP) (" Adastra " or the " Company "), a leading cannabis processor and producer of two top Canadian concentrates brands, with a focus on product innovation and commercialization for adult-use and medical markets, is pleased to report financial results for the three and nine months ended September 30, 2023. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

不列顛哥倫比亞省蘭利/ACCESSWIRE/2023年11月29日/ Adastra Holdings Ltd.(CSE: XTRX)(FRA: D2EP)(“Adastra” 或 “公司”)是領先的大麻加工商,也是加拿大兩個頂級濃縮液品牌的生產商,專注於成人用和醫療市場的產品創新和商業化,很高興地公佈截至9月30日的三個月和九個月的財務業績,2023。除非另有說明,否則本新聞稿中的所有財務信息均以加元報告。

"In the third quarter of 2023, we achieved gross revenues of $8.1 million, marking a substantial 49% increase compared to the same period last year. This impressive growth is directly linked to an increase in throughput at our Langley facility. Although we observed a dip in sales from the second quarter of 2023 due to our strategic shift towards prioritizing our in-house brands over production for third-party licensed producers, we are confident in the long-term benefits of this transition. Our in-house brand, Endgame, is in high demand, consistently securing numerous best-selling SKUS on Headset. As we enter the last quarter of 2023, our commitment remains unwavering in delivering value to our stakeholders and capitalizing on the positive momentum we have generated. Notably, we're on track to approach nearly $40 million in annual sales, solidifying our position as a key player in the thriving cannabis industry." said Michael Forbes, Chief Executive Officer of Adastra.

“在2023年第三季度,我們實現了810萬美元的總收入,與去年同期相比大幅增長了49%。這種令人印象深刻的增長與蘭利工廠吞吐量的增加直接相關。儘管由於我們的戰略轉向優先考慮內部品牌而不是爲第三方許可生產商生產,我們觀察到,自2023年第二季度以來,銷售額有所下降,但我們對這種轉變的長期收益充滿信心。我們的自有品牌Endgame需求量很大,一直在頭戴式耳機上獲得衆多最暢銷的SKU。在我們進入2023年最後一個季度之際,我們的承諾仍然堅定不移,致力於爲利益相關者創造價值,並利用我們產生的積極勢頭。值得注意的是,我們的年銷售額有望接近4000萬美元,鞏固我們在蓬勃發展的大麻行業中作爲關鍵參與者的地位。” Adastra首席執行官邁克爾·福布斯說。

Third Quarter 2023 Financial Highlights

2023 年第三季度財務摘要

  • Gross revenues of $8.1M in the three month period ended September 30, 2023 (" Q3 2023 "), compared to $5.5M in the three month period ended September 30, 2022 (" Q3 2022 "), representing an increase of 49%, due to a significant increase in the throughput of the Langley facility.
  • Gross profit of $2.2M in Q3 2023, compared to $1.6M in Q3 2022, representing an increase of 36%. This was achieved by increasing the economies of scale of production as well as managing the costs of inputs of production.
  • Operating expenses as a percentage of gross revenues decreased from 38% in Q3 2022 to 32% in Q3 2023.
  • Net loss and comprehensive loss of $642K during Q3 2023, compared to $1.1M during the three month period ended June 30, 2023, a decrease of 40% quarter over quarter.
  • During Q3 2023, the Company renewed its $3.5M mortgage with a maturity date of November 1, 2024. The mortgage bears interest at the greater of 11.49% or the prime rate plus 4.29% per annum, calculated monthly, for one year. The interest rate will increase to 15.99% or the prime rate plus 8.79% for the remainder of the term, unless it is renewed earlier.
  • Operating expenses increased 27% from $2.1M during Q3 2022 to $2.6M during Q3 2023 which was the result of the Company's increased expenditures on advertising and promotion. The Company worked to build brand awareness of the Endgame and Phyto Extractions product lines by hosting events. These investments in the brand are expected to result in higher sales for future periods.
  • 在截至2023年9月30日的三個月期間(“2023年第三季度”)中,總收入爲810萬美元,而截至2022年9月30日的三個月期間(“2022年第三季度”)爲550萬美元,增長了49%,這是蘭利設施吞吐量顯著增加所致。
  • 2023年第三季度的毛利爲220萬美元,而2022年第三季度爲160萬美元,增長了36%。這是通過提高生產規模經濟和管理生產投入成本來實現的。
  • 運營支出佔總收入的百分比從2022年第三季度的38%下降到2023年第三季度的32%。
  • 2023年第三季度的淨虧損和綜合虧損爲6.42萬美元,而截至2023年6月30日的三個月期間爲110萬美元,同比下降40%。
  • 在2023年第三季度,該公司續訂了350萬美元的抵押貸款,到期日爲2024年11月1日。抵押貸款的利率爲11.49%或最優惠利率加上每年4.29%(兩者中較高者),爲期一年,按月計算。除非提前續期,否則在剩餘期限內,利率將提高至15.99%或最優惠利率加8.79%。
  • 運營支出從2022年第三季度的210萬美元增長到2023年第三季度的260萬美元,增長了27%,這是公司廣告和促銷支出增加的結果。該公司通過舉辦活動努力提高Endgame和Phyto Extractions產品系列的品牌知名度。預計對該品牌的這些投資將在未來時期帶來更高的銷售額。

2023 Year-to-Date Financial Highlights

2023 年迄今爲止的財務亮點

  • During the nine months ended September 30, 2023, cash provided by operating activities increased to $2.2M from operations from $106K during the nine months ended September 30, 2022.
  • During the nine months ended September 30, 2023, the Company had free cash flow of $1.5M, compared to negative $221K during nine months ended September 30, 2022. (1)
  • 在截至2023年9月30日的九個月中,運營活動提供的現金從截至2022年9月30日的九個月的10.6萬美元增加到220萬美元。
  • 在截至2023年9月30日的九個月中,該公司的自由現金流爲150萬美元,而截至2022年9月30日的九個月中,該公司的自由現金流爲負22.1萬美元。 (1)
  1. Free cash flow is a non-GAAP financial measure that is used to measure the Company's ability to generate value and grow the Company's business. Free cash flow is calculated as cash flow from operations less cash used in investing activities. Free cash flow is a non-GAAP financial measure used by management that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The most directly comparable measure to free cash flow calculated in accordance with IFRS is cash flows that are not related to financing activies. For more information on the reconciliation of free cash flow, please refer to the reconciliation table following this note.
  1. 自由現金流是一種非公認會計准則財務指標,用於衡量公司創造價值和發展公司業務的能力。自由現金流的計算方法是運營產生的現金流減去用於投資活動的現金。自由現金流是管理層使用的非公認會計准則財務指標,不具有《國際財務報告準則》規定的任何標準化含義,可能無法與其他公司提出的類似指標相提並論。與根據國際財務報告準則計算的自由現金流最直接可比的衡量標準是與融資活動無關的現金流。有關自由現金流對賬的更多信息,請參閱本說明後面的對賬表。
Nine months ended
September 30,
2023 2022
$ $
Cash provided by operating activities
2,235,517 106,788
Cash used in investing activities
(761,695) (327,379)
Free cash flow
1,473,822 (220,591)
九個月已結束
9月30日
2023 2022
$ $
經營活動提供的現金
2,235,517 106,788
用於投資活動的現金
(761,695) (327,379)
自由現金流
1,473,822 (220,591)

Third Quarter 2023 Corporate and Business Highlights

2023 年第三季度企業和業務亮點

  • In-house brand, Endgame ranks 1st and 2nd of the best-selling concentrates and ranks 3rd of the best-selling vapor pens in Alberta, according to Headset 1
  • In-house brand, Endgame ranks 4th and 5th of the best-selling concentrates in British Columbia, according to Headset 2
  • In-house brand, Endgame ranks 3rd of the best-selling vapor pens in Ontario, according to Headset 3
  • In Q3 2023, the following new SKUs for in-house brands were accepted for listing in: Ontario - 23; Alberta - 19; Manitoba - 17; Yukon - 11; Saskatchewan - 10; and British Columbia - 6.
  • 根據Headset的數據,內部品牌Endgame在最暢銷的濃縮液中排名第一和第二,在艾伯塔省最暢銷的蒸汽筆中排名第三 1
  • 根據Headset的數據,內部品牌Endgame在不列顛哥倫比亞省最暢銷的濃縮液中排名第四和第五 2
  • 根據Headset的數據,內部品牌Endgame在安大略省最暢銷的蒸汽筆中排名第三 3
  • 2023年第三季度,以下自有品牌的新 SKU 獲准在安大略省上市:安大略省-23;艾伯塔-19;曼尼託巴-17;育空-11;薩斯喀徹溫省-10;不列顛哥倫比亞省-6。

Financial Statements & Management's Discussion and Analysis

財務報表與管理層的討論與分析

This earnings press release should be read in conjunction with Adastra's interim financial statements for the three and nine months ended September 30, 2023 (the " Financial Statements ") and the related management's discussion & analysis (the " MD&A "), which can be found on Adastra's issuer profile on the System for Electronic Document Analysis and Retrieval Plus (" SEDAR+ ") at .

本業績新聞稿應與Adastra截至2023年9月30日的三個月和九個月的中期財務報表(“財務報表”)以及相關管理層的討論與分析(“MD&A”)一起閱讀,後者可在Adastra的電子文件分析和檢索系統Plus(“SEDAR+”)上的發行人簡介中找到。

About Adastra Holdings Ltd.

關於阿達斯特拉控股有限公司

Adastra has become one of Canada's leaders in the supply and manufacturing of ethnobotanical and cannabis products for lawful adult-use. It serves medical markets and engages in forward-looking therapeutic applications. With cannabis concentrate products sold through retailers at more than 2,000 locations across Canada, Adastra's Phyto Extractions and Endgame Extracts brands are now well established with a solid distribution presence. As a Health Canada licensed facility, it specializes in extraction, distillation and manufacturing of a range of cannabis-derived products. Adastra partners with healthcare professionals and practitioners within the regulated environment to create products suitable for the medical cannabis market, with the ultimate aim of addressing the needs of patients. For more information, visit: .

Adastra已成爲加拿大供應和製造供成人合法使用的民族植物學和大麻產品的領導者之一。它服務於醫療市場並從事前瞻性治療應用。隨着加拿大2,000多個地點的零售商銷售大麻濃縮產品,Adastra的植物提取物和殘局提取物品牌現已建立牢固的分銷業務。作爲加拿大衛生部的許可機構,它專門從事一系列大麻衍生產品的提取、蒸餾和製造。Adastra與監管環境中的醫療保健專業人員和從業人員合作,開發適合醫用大麻市場的產品,最終目標是滿足患者的需求。欲了解更多信息,請訪問:。

Contacts

聯繫人

Michael Forbes, CEO, Corporate Secretary & Director
(778) 715-5011
michael@adastraholdings.ca

邁克爾·福布斯,首席執行官、公司秘書兼董事
(778) 715-5011
michael@adastraholdings.ca

Cautionary Statement Regarding Forward-Looking Information

關於前瞻性信息的警示聲明

This news release includes certain "forward‐looking information" as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the expected long-term benefits of the Company focusing on the Company's in-house brands; the Company's ability to continue to deliver value to its stakeholders; the Company's ability to be a key player in the cannabis industry; the availability of the Financial Statements and the MD&A on the Company's SEDAR+ profile; and expectations for other economic, business, and/or competitive factors.

本新聞稿包含適用的加拿大證券立法所定義的某些 “前瞻性信息”,包括有關公司未來業務活動和經營業績的計劃、意圖、信念和當前預期的聲明。前瞻性信息通常用 “可能”、“會”、“可以”、“應該”、“打算”、“計劃”、“預期”、“相信”、“估計”、“期望” 或類似表達方式來識別,包括以下信息:公司專注於公司內部品牌的預期長期收益;公司繼續爲利益相關者創造價值的能力;公司成爲關鍵的能力大麻行業的參與者;公司SEDAR+概況中財務報表和MD&A的可用性;以及對公司的預期其他經濟、商業和/或競爭因素。

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the availability of a qualified workforce; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; reductions in the Company's retail space and store locations; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in the MD&A and the Company's management discussion and analysis for the years ended December 31, 2022 and 2021, which are available on the Company's profile on SEDAR+ at .

提醒投資者,前瞻性信息不是基於歷史事實,而是反映了管理層對未來業績或事件的預期、估計或預測,這些預期、估計或預測是基於管理層在發表聲明之日認爲合理的觀點、假設和估計。儘管公司認爲此類前瞻性信息中反映的預期是合理的,但此類信息涉及風險和不確定性,不應過分依賴此類信息,因爲未知或不可預測的因素可能會對公司的未來業績、業績或成就產生重大不利影響。可能導致實際業績與前瞻性信息中預測的結果存在重大差異的關鍵因素包括:合格員工隊伍的可用性;監管和許可風險;消費者需求和偏好的變化;總體經濟、商業和政治狀況的變化,包括金融市場的變化;公司零售空間和門店地點的減少;與大麻相關的全球監管格局和執法,包括政治風險和與監管相關的風險變化;對廣泛政府監管的遵守情況;公衆對大麻行業的看法和看法;COVID-19 的影響;以及截至2022年12月31日和2021年12月31日止年度的MD&A以及公司管理層討論和分析中列出的風險因素,這些因素可在公司關於SEDAR+的簡介中查閱

1 Source: Headset Data , November 29, 2023

1 來源:頭戴式耳機數據,2023 年 11 月 29 日

2 Source: Headset Data , November 29, 2023

2 來源:頭戴式耳機數據,2023 年 11 月 29 日

3 Source: Headset Data , November 29, 2023

3 來源:頭戴式耳機數據,2023 年 11 月 29 日

SOURCE: Adastra Holdings Ltd.

來源:Adastra Holdings Ltd.


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