2023-03-31 07:38:20 ET
- Auxly Cannabis press release ( OTCQB:CBWTF ): FY GAAP EPS of -C$0.15.
- Revenue of C$94.47M (+12.7% Y/Y).
- The Gross Profit Margin for 2022 was 17% versus 23% in 2021.
- Adjusted EBITDA during the year ended December 31, 2022 was negative $16.9 million, an improvement of $4.8 million over the same period of 2021, primarily as a result of improvements realized during the fourth quarter of 2022.
- Outlook: "Starting in 2023, we have increased our listed flower SKUs by 60% and pre-roll SKUs by 50% as compared to September 30, 2022. We are entering 2023 with improved earnings performance, increased focus on key product formats, lowered costs and increased efficiency which we expect will yield positive results. With these actions in mind, our goals for the coming year are broadly defined below:
- Increase net revenues by 15%, with a focus on key product categories, enhanced by strategic expansion of our product portfolio, while supporting strong retail distribution through our internal sales team.
- 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.
For further details see:
Auxly Cannabis GAAP EPS of -C$0.15, revenue of C$94.47M