Marijuana Extraction Company Ayurcann Reports Record Gross Revenue For Fiscal Year 2024
Portfolio Pulse from Nina Zdinjak
Ayurcann Holdings Corp., a Canadian cannabis company, reported record gross revenue of CA$45.27 million for fiscal year 2024, marking a 100% increase year-over-year. Despite challenges in the competitive cannabis market, Ayurcann expanded its market share with over 70% penetration in dispensaries and a diverse product range. The company also reported a net revenue of CA$25.16 million and an adjusted EBITDA gain of CA$198,213. Ayurcann shares closed flat at $0.054 per share.
October 29, 2024 | 1:32 pm
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Ayurcann Holdings Corp. reported record gross revenue for fiscal year 2024, doubling its revenue year-over-year. Despite a competitive market, the company expanded its market share significantly.
The record revenue and significant market share expansion are positive indicators for Ayurcann Holdings, suggesting potential growth and stability in a competitive market. This could lead to a positive short-term impact on the stock price.
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