Aleafia Health Stock Price, News & Analysis

Aleafia Health has secured a new European cannabis distribution partnership, signing a one-year agreement worth approximately $1 million. This partnership enhances the company’s international growth, contributing to a total of $1.2 million in year-to-date sales. CEO Tricia Symmes emphasized the importance of this relationship for expanding into the high-potential European market. Additionally, David Pasieka has been appointed as the new Board Chair, replacing Mark Sandler, who retired after significant contributions to the company. Aleafia Health aims for continued growth and profitability through strategic international agreements.

Aleafia Health has successfully completed its TSX delisting review, confirming compliance with the Toronto Stock Exchange's listing requirements. The company is now free from further review, allowing it to continue trading on the TSX. Additionally, Aleafia has expanded its adult-use cannabis portfolio into Manitoba, its fifth province, reaching over 70% of the Canadian population. The company launched a portfolio of twelve products in mid-November, aimed at boosting sales during the holiday season.

Aleafia Health reported significant progress in its Q2 FY2023 results, achieving a milestone with an Adjusted EBITDA of $0.1 million, a turnaround from a loss of $8.8 million the previous year. Total revenue rose by 21% to $14.5 million, with branded cannabis revenue increasing by 23% to $9.4 million, driven by the success of the Divvy brand. The company also saw a record $0.7 million in international revenue and improved gross profit margin at 35%. Cost-saving measures, including the wind down of the Grimsby greenhouse, are set to save $4.1 million annually.

Aleafia Health will announce its fiscal Q2 2023 results on November 9, 2022. The announcement will be made before market open, followed by an earnings conference call at 8:30 a.m. EST on the same day. CEO Tricia Symmes and CFO Matt Sale will lead the call. Aleafia Health, a vertically integrated Canadian cannabis company, operates multiple production facilities and offers a range of cannabis products for medical and adult-use markets. Investors are encouraged to join the call and access a replay if missed.

Aleafia Health is expanding its product offerings with the launch of the Sunday Market House of Brands winter lineup, featuring 16 new products by February 2023. This includes 9 new Divvy products in profitable categories like flower, vape, and milled cannabis. Notable additions include the new high-THC flower offering, a balanced THC:CBD Black Widow vape cartridge, and a THC-infused Quebec Maple Syrup. CEO Tricia Symmes highlighted the opportunity to brighten holiday gatherings with giftable products, while CFO Matt Sale emphasized the strategic growth of the Divvy brand amid strong consumer demand.

Aleafia Health Inc. announced the successful election of all six director nominees during its annual meeting held on September 27, 2022. The nominees received significant support from shareholders, with voting results showing a high percentage of approval ranging from 97.62% to 97.96%. The finalized results will be available on the Company's SEDAR profile. Aleafia Health is a licensed Canadian cannabis company offering a variety of products in domestic and international markets, including Australia and Germany, and operates a virtual medical cannabis clinic.

Aleafia Health has announced that the Toronto Stock Exchange has extended its delisting review period until November 29, 2022. This decision follows previous announcements regarding the company's status. Aleafia Health provides cannabis products in both Canadian adult-use and medical markets and operates a virtual medical cannabis clinic to offer health services across Canada. The company aims to keep stakeholders updated on future developments.

Aleafia Health reported a 31% increase in branded cannabis net revenue, reaching $10.0 million in Q1 FY2023. The company holds a #12 ranking for market share and achieved a 12% increase in medical cannabis revenue. Notably, Aleafia secured a new international partnership with a $4.6 million sales commitment. The company reaffirmed its guidance for FY2023, expecting $53 million to $63 million in net revenue. Despite a -0.9 million Adjusted EBITDA, it aims for breakeven profitability by FY2023's end.

Aleafia Health will announce its fiscal year 2023 first quarter results on August 11, 2022, prior to market open. The earnings conference call is scheduled for 8:30 a.m. EST on the same day, led by CEO Tricia Symmes and CFO Matt Sale. This announcement will cover key financial outcomes for the period ending June 30, 2022, and provide insights into the company's performance. Aleafia operates multiple licensed cannabis production facilities and offers a range of cannabis derivative products for both medical and adult-use markets.