RWBYF - Canadian Weed Producer Reduces Net Loss For 2023 But Reports Higher Debt | Benzinga
Canadian marijuana company Red White & Bloom Brands Inc. (CSE:RWB) (OTC:RWBYF) reported its financial results Monday for the fourth quarter and fiscal year 2023, revealing quarterly revenue of CA$19.9 million ($14.5 million), compared to CA$15.4 million in the same period of 2022. For the fiscal year 2023, the Toronto-based operator reported revenues of CA$88.3 million, compared to CA$87.7 million in fiscal 2022.
"RWB continued to effect value-added transformations of its business during fiscal 2023," stated Colby De Zen, president and director. "We focused on higher margin revenue opportunities and sunsetting of low margin products, as can be seen in our results, which has led to a 30% increase in gross margin with revenue only increasing marginally over the same period. Moving into fiscal 2024, the company has targeted several ...