Auxly Cannabis Stock Price, News & Analysis

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced it will report its earnings results for the fourth quarter and full year ended December 31, 2021, on March 31, 2022, prior to market opening. A conference call will be held on the same day at 10:00 a.m. EST to discuss the results. Auxly is a leading Canadian cannabis company focused on innovative cannabis products for wellness and adult-use markets, supported by strong supply and R&D infrastructure.

Auxly Cannabis Group has closed its Robinsons cultivation facilities in Nova Scotia to streamline operations and cut costs. This strategic move aims to support the company's goal of becoming adjusted EBITDA positive by mid-2022. The closure will not impact cultivation or sales revenue, as resources will be redirected to the large-scale greenhouse facility in Leamington, Ontario, which offers significant capacity for high-quality cannabis production. The company plans to divest non-core assets to further bolster its operational efficiency and financial standing.

Auxly Cannabis Group Inc. (CBWTF) reported significant growth in its market presence, nearly doubling its overall market share and securing the #5 position among licensed producers in Canada by the end of 2021. The company leads the Cannabis 2.0 segment with a 15% share, driven by a dominant 23% market share in the vapour category. Auxly launched 52 SKUs and expanded its portfolio, acquiring a greenhouse facility to boost production capacity. CEO Hugo Alves highlighted the year as transformative, positioning the company for continued success in the cannabis market.

Auxly Cannabis Group has acquired 100% ownership of Sunens Farms Inc. for $1.6 million, enhancing its operational capabilities in the cannabis market. The acquisition allows Auxly to utilize Sunens' cultivation for its products, including top-selling strains. It will improve gross margins and reduce reliance on wholesale purchases. In addition, Auxly has amended its credit facility with BMO, increasing the principal to $62.5 million and extending the maturity date to September 2023. This strategic move is expected to support growth and profitability in the cannabis sector.

Auxly Cannabis Group (OTCQX: CBWTF) reported Q3 2021 revenues of $24.5 million, a 95% year-over-year increase and a 17% sequential rise. Despite improved revenues, Adjusted EBITDA remained negative at $6.5 million. The company maintained its position as the #1 licensed producer in Cannabis 2.0 sales with a 15.6% market share and moved to the #5 position in total national recreational sales with 7.3% share. Net losses for the quarter were $13.5 million or $0.02 per share, which is an improvement over the previous year. The company aims to achieve positive Adjusted EBITDA by year-end 2021.

Auxly Cannabis Group has achieved a significant market milestone by becoming the #5 Canadian Licensed Producer (LP) with a 7.3% national market share. This success is credited to their innovative portfolio and leadership in the cannabis 2.0 segment, where they hold the #1 position in vapes. The company has launched a new fall product lineup, featuring seasonal flavors and formulations across its brands, including Back Forty, Kolab Project, and Foray. These offerings aim to enhance consumer experience and drive further growth in the competitive cannabis market.

Auxly Cannabis Group has appointed Murray McGowan, Chief Strategy and Development Officer at Imperial Brands, to its Board of Directors effective November 1, 2021. McGowan replaces Conrad Tate, who remains on the Board as an independent director. This leadership change comes as Auxly continues its growth in the Canadian cannabis market. Genevieve Young, Chair of the Board, emphasized McGowan's strategic expertise as a valuable asset during this expansion phase. The Board will now consist of six directors, including McGowan on the Audit Committee.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced it will report its third quarter 2021 earnings results on November 15, 2021, before the market opens. The company will host a conference call at 10:00 a.m. EST to discuss the results. Auxly focuses on innovative cannabis products for the wellness and adult-use markets, backed by a robust supply chain and R&D capabilities. The earnings report and call are expected to provide insights into the company's financial performance and strategic direction, crucial for shareholders and investors.

Auxly Cannabis Group has solidified its position as the #6 licensed producer in Canada for cannabis sales as of Q3 2021, achieving a 5.7% market share, up from 4.9% in Q2. The company leads in Cannabis 2.0 product sales with a 15.6% market share, notably holding 24.7% of the vapour market. Auxly plans to reach 7-9% market share by year-end and aims for positive adjusted EBITDA. The growth is attributed to innovative product launches and focused consumer connections, ensuring continuous expansion in the competitive landscape.