Canadian cannabis company Nextleaf Solutions Ltd. (CSE:OILS) (OTCQB:OILFF) (FSE: L0MA) announced on Tuesday its annual financial results for fiscal 2023, revealing an 85% year-over-year increase to CA$8.2 million ($6.1 million) in net revenue.
Fiscal 2023 delivered four quarters of consistent positive cash flow, the Vancouver company said, attributing it to a reduction in operating expenses, increased revenue, and improved gross margins.
“2023 delivered the framework for financial stability," Nextleaf interim CEO Emma Andrews said. "This provided the confidence that we have the tenacity, talent, technology, and tactics to ride the waves inherent in this industry. Despite the complexity, we’ve remained very focused on delivering one simple premise…value.”
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