HERTF - Heritage Cannabis Co. Boosts Gross Margin Over 50% In 2023 Thanks To This Smart Move | Benzinga
Heritage Cannabis Holdings Corp. (CSE:CANN) (OTCQB:HERTF) reported its financial results on Monday for the three- and twelve-month periods ended October 31, 2023, revealing an increase in gross margin of more than 50% for 2023 and 628% for the fourth quarter compared to last year.
David Schwede, CEO of the Toronto-based company, attributed it to the company's efforts to "optimize our products in 2023 while maintaining a close focus on production efficiencies, operational spending, and high gross margin sales."
Schwede added the company's products, like RAD vape products and Adults Only brand remain in high demand.
"In the U.S., we have six SKUs in New York – our newest state – and our more established business in Missouri and West Virginia saw strong growth with over $3.5 million in sales for the year," he continued. "With Q1 revenues and gross margins expected to continue this trend ...