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Aleafia Health Inc. reported its Q3 FY2023 financial results, achieving its second consecutive quarter of positive Adjusted EBITDA at $0.4 million, reflecting a 4% margin. The company saw a 39% growth in adult-use revenue compared to the prior quarter, with a 5% increase year-over-year. Medical net revenue rose by 40%, highlighted by a record $1.1 million in November 2022. Significant cost reductions totaling $21 million over 15 months helped achieve gross profit before fair value adjustments of 37%. Additionally, Aleafia expanded its market reach by entering Manitoba and secured contracts with European partners estimating $1 million and $4.6 million in sales.
Aleafia Health Inc. (OTCQB: ALEAF) will release its fiscal Q3 2023 results on February 13, 2023, before market open. The report covers the period ending December 31, 2022. Following the announcement, a conference call will be held at 8:30 a.m. EST, led by CEO Tricia Symmes and CFO Matt Sale. Interested parties can access the live webcast through the provided link. Aleafia Health, a licensed Canadian cannabis company, operates multiple production facilities and offers a range of cannabis products for both adult-use and medical markets.
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