CanadaBis Capital (CANB) Q4 2024 earnings summary

Executive summary

• Achieved positive net income of $600,285 for the fiscal year ended July 31, 2024, reflecting strong financial performance amid higher costs from new product launches and operational expansion.

• Sold over 1,800,000 units of concentrates and dry flower, a 6% increase year-over-year.

• Revenue growth driven by new high-potency THC products under the Dab Bods brand and continued popularity of core offerings.

• Operational efficiencies and strategic purchasing helped manage increased production costs and inflationary pressures.

Financial highlights

• Net income reached $600,285 for the year ended July 31, 2024.

• Gross revenue from external customers totaled $30,409,082, with net revenue after excise duty at $17,954,677.

• Gross profit was $6,494,428, with income from operations at $833,784.

• Cost of goods sold increased due to higher production volumes and expanded product lines.

Outlook and guidance

• Positive momentum expected to continue into fiscal 2025, supported by product innovation, market expansion, and cost management.

• Product diversification and operational efficiencies are anticipated to drive long-term success.