AYURF - Defining Weed Industry Trends With Over 100% Revenue Boost In 2023: Cannabis Extractor's Latest Earnings | Benzinga
Canadian cannabis extraction company Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) (FSE: 3ZQ0) announced its financial and operational results Monday for the year ended June 30, 2023, revealing a 102% year-over-year increase in gross revenue to CA$22.4 million ($16.2 million).
"We are excited to see consistent growth in our revenues across the country, despite the retail price compression affecting the industry,” Igal Sudman, CEO of Ayurcann said. "The ability to transition away from a business-to-business to a business-to-consumer focused company has enabled Ayurcann to enter and grow its market share in multiple markets in Canada.”
FY 2023 Financial Highlights
- Net revenue totaled CA$12.5 million, up from CA$9.4 million in fiscal 2022.
- Operating loss grew to CA$5.3 million, up from CA$3.3 million in the prior year.
- The net and comprehensive loss amounted to CA$ 5.3 million, up from CA$3.08 million in 2022.
- Total expenses amounted to CA$9.02 million, up from CA$5.5 million.
- As of June 30, ...