Streetbeat News

XTXXF

Adastra Holdings Ltd

https://adastralabs.ca/home/

CEO

Phillip Thomas

Industry

Iron and Steel Mills and Ferroalloy Manufacturing

Open

0.18

Mkt cap

1.2M

Volume

High

0.22

P/E Ratio

-0.63

52-wk high

0.32

Low

0.18

Div yield

N/A

52-wk low

0.01

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Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 8:05 pm

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Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 12:34 pm

Adastra Holdings Ltd., a Canadian cannabis concentrates producer, reported a third consecutive year of record revenue for 2023, with a 108% increase to $37.7 million. However, the company also experienced higher losses, with a net loss of CA$3.54 million, up 17% from the previous year. The growth was attributed to the success of its in-house brand, Endgame Extracts. Despite the increased losses, Adastra achieved a record gross profit and cash provided by operating activities. The company anticipates continued momentum into 2024, including a record single purchase order of $1 million in March 2024, and plans to focus on cost-saving measures to ensure profitability.

Portfolio Pulse from Nina Zdinjak

April 25, 2024 | 1:48 pm

The article lists the cannabis stocks that gained and lost on August 24, 2023. Notable gainers include EVIO, Red White & Bloom Brands, and CBD Unlimited. Major losers include Choom Holdings, Radient Technologies, and Target Group.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 9:30 pm

Adastra Holdings Ltd. reported Q2 2023 financial results, with net revenue of CA$7.1 million, up by 132.68% YoY, attributed to increased throughput at the Langley facility. However, the net loss also increased by 124% to CA$1.07 million. The company's operating expenses as a percentage of revenue decreased from 42% in Q2 2022 to 21% in Q2 2023, while the cash position increased to CA$2M.

Portfolio Pulse from Nina Zdinjak

August 18, 2023 | 3:07 pm

Adastra Holdings Ltd. reported Q1 2023 gross revenues of CA$9.5 million ($6.98 million), a 315% YoY increase and 39% QoQ increase. The company's CEO attributed the growth to market demand and nationwide presence. Adastra also received approval from Health Canada to produce and sell cocaine.

Portfolio Pulse from Jelena Martinovic

May 31, 2023 | 5:36 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.