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Avant Brands Inc (OTCQX:AVTBF) (TSX:AVNT) (FRA:1BU0) net revenue in fiscal 2022 was a record of CA$20.2 million ($14.87 million), a 112% increase compared to CA$11 million in fiscal 2021.
Q4 FY 2022 Financial Highlights
Net Revenue was a record of CA$7.9 million (+238% vs. Q4 2021 | +100% vs. Q3 2022)
Gross margin of 38% (+4% vs. Q4 2021 | +1% vs. Q3 2022)
Adjusted EBITDA was a record of CA$1.6 million (+208% vs. Q4 2021 | +124% vs. Q3 2022)
Adjusted EBITDA margin (% of net revenue) of 20% (+83% vs. Q4 2021 | +2% vs. Q3 2022)
Net loss from operations of CA$2.5 million (primarily due to fair value changes to biological assets, which are non-cash items) (+5% vs. Q4 2021 | -427% vs. Q3 2022)
Second consecutive quarter of positive adjusted EBITDA and positive cash flow from operations
Fiscal 2022 Financial Highlights
Gross margin of 32%, (-7% vs. FY2021)
Adjusted EBITDA was a record of CA$1.9 million (+221% vs. FY2021)
Adjusted EBITDA margin (of net revenue) of 9%
Net loss from operations of CA$8.5 million, compared to a loss of CA$5.4 million in FY2021
Three of four quarters in fiscal 2022 were positive adjusted EBITDA and positive cash flow from operations
"The results from Q4 and Fiscal 2022 illustrate a robust growth profile for Avant Brands, along with record adjusted EBITDA and cash flow from operations. This was a result of our ongoing dedication to consistently producing high quality cannabis flower," stated Norton Singhavon, founder and CEO of Avant. "The strong sales momentum that we have established during Fiscal 2022, augmented by the recent acquisition of the Flowr Okanagan, will allow Avant to continue pursuing its mission to become a global leader for premium cannabis products."
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.
Avant Brands Inc (OTCQX:AVTBF) (TSX:AVNT) (FRA:1BU0) net revenue in fiscal 2022 was a record of CA$20.2 million, a 112% increase compared to CA$11 million in fiscal 2021.
Q4 FY 2022 Financial Highlights
Net Revenue was a record of CA$7.9 million (+238% vs. Q4 2021 | +100% vs. Q3 2022)
Gross margin of 38% (+4% vs. Q4 2021 | +1% vs. Q3 2022)
Adjusted EBITDA was a record of CA$1.6 million (+208% vs. Q4 2021 | +124% vs. Q3 2022)
Adjusted EBITDA margin (% of net revenue) of 20% (+83% vs. Q4 2021 | +2% vs. Q3 2022)
Net loss from operations of CA$2.5 million (primarily due to fair value changes to biological assets, which are non-cash items) (+5% vs. Q4 2021 | -427% vs. Q3 2022)
Second consecutive quarter of positive adjusted EBITDA and positive cash flow from operations
Fiscal 2022 Financial Highlights
Gross margin of 32%, (-7% vs. FY2021)
Adjusted EBITDA was a record of CA$1.9 million (+221% vs. FY2021)
Adjusted EBITDA margin (of net revenue) of 9%
Net loss from operations of CA$8.5 million, compared to a loss of CA$5.4 million in FY2021
Three of four quarters in fiscal 2022 were positive adjusted EBITDA and positive cash flow from operations
"The results from Q4 and Fiscal 2022 illustrate a robust growth profile for Avant Brands, along with record adjusted EBITDA and cash flow from operations. This was a result of our ongoing dedication to consistently producing high quality cannabis flower," stated Norton Singhavon, founder and CEO of Avant. "The strong sales momentum that we have established during Fiscal 2022, augmented by the recent acquisition of the Flowr Okanagan, will allow Avant to continue pursuing its mission to become a global leader for premium cannabis products."
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.
