Markets are Falling, but this Cannabis Maker is Moving Higher
This company continues to focus on execution, operations and supply chain building to accommodate increases in sales and market share in Canada. And shares are moving against the crowd this Monday after it achieved its highest market share and revenue in the fiscal first quarter of 2025.
Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) is a vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices. The firm, which has two mega facilities based in Québec spanning over 1,650,000 square feet, announced in a press release today fiscal first quarter 2025 financial and operating results for the three-month period ended November 30, 2024.
The firm’s gross cannabis revenues increased by 33% to $34.9 million in Q1 2025 due to deeper market penetration, new market entries, and the addition of new genetics and products. Total revenues, net of excise taxes, rose by 29% to $25.1 million in Q1 2025 and gross profit before fair value adjustments grew by 23% to $9.8 million in Q1 2025, supported by expanded production capacity, higher yields, and lower production costs.
In addition, operating income increased to $4.2 million in Q1 2025, reflecting higher sales and lower production costs, offset by increased sales and marketing expenses. Earnings per share increased to $0.03 in Q1 2025 compared to $0.02 in Q1 2024.
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