2023-05-15 09:03:24 ET
- Auxly Cannabis press release ( OTCQB:CBWTF ): Q1 GAAP EPS of -C$0.01.
- Revenue of C$24M (+6.1% Y/Y).
- Cash from continuing operating activities was C$3.2 million during the current quarter, as compared to a use of cash of C$7.0 million during the first quarter of 2022.
- Adjusted EBITDA for the period ended March 31, 2023 was positive C$0.1 million, an improvement of C$6.5 million over the same period of 2022.
- Outlook: In 2023, we aim to continue to improve earnings performance, increase focus on key product formats, lower costs and increase efficiency, which we expect will yield positive results. With these actions in mind, our goals for 2023 are broadly defined below:
- Increase net revenues by 15%, with a focus on key product categories.
- Continue to leverage Auxly Leamington's large-scale, low-cost cultivation facility and the Company's manufacturing automation to increase blended Cost of Finished Cannabis Inventory Sold Margin to an average of 35-40%.
- Vigorously manage SG&A as a percentage of net revenues to keep it below 40%, further building upon savings realized in Q4 2022.
- Prudently manage the Company's balance sheet and streamline assets where possible.
For further details see:
Auxly Cannabis GAAP EPS of -$0.01, revenue of $24M