How did Gu'anjie's revenue and expenses trend in Q4 2024?
4/14/2025 11:40am
Cannara Biotech Inc. reported record sales growth and operating cash flow for Q4 and fiscal year 2024, solidifying its leadership in Canada's cannabis market:
1. **Revenue Growth**: Gu'anjie's total revenues for Q4 2024 were $23.4 million, marking a 28% increase compared to the same period in 2023. The year-end total revenues reached $82.2 million, reflecting a 43% increase year-over-year.
2. **Operating Income and Profitability**: The company's operating income for 2024 was $10.1 million, up from $11.9 million in 2023, indicating increased marketing and administrative expenses to support business growth. Despite this, the company delivered its fourteenth consecutive quarter of positive Adjusted EBITDA, achieving $3.7 million in Q4 2024.
3. **Cash Flow Improvement**: Gu'anjie's operating cash flow surged by 81% year-over-year, reaching $10.7 million for fiscal 2024, while free cash flow improved significantly, reaching $3.2 million, a $7.2 million increase from the previous year.
4. **Market Share Expansion**: The company achieved a national market share of 3.2% in Q4 2024, a 39% increase from the previous year. It also maintained a leading market share of 11.9% in Québec, positioning itself among the top 3 provinces.
In conclusion, Gu'anjie's revenue and expenses trend in Q4 2024 was marked by robust growth in revenues, increased operating income, improved cash flow, and significant market share expansion, reflecting strong operational performance and strategic initiatives.