Welcome to our dedicated page for Auxly Cannabis news (Ticker: CBWTF), a resource for investors and traders seeking the latest updates and insights on Auxly Cannabis stock.
Auxly Cannabis Group Inc. (OTCQB: CBWTF; TSX: XLY) generates frequent news as a Canadian consumer packaged goods company focused on cannabis products. Company updates center on its branded dried flower, pre-roll and vape offerings, its financial performance, and developments in its capital structure.
News items often cover quarterly and interim financial results, where Auxly reports on net revenues, gross margin on finished cannabis inventory sold, adjusted EBITDA and net income. These releases also highlight commercial metrics such as national market share, category leadership in all-in-one vapes and non-infused pre-rolls, and the performance of key brands like Back Forty, Liquid Imagination and Fire Breath.
Auxly’s news flow also includes announcements about strategic and financial transactions. Examples include amendments and extensions to its credit facility with a syndicate of lenders led by the Bank of Montreal, the settlement of amounts owing to Imperial Brands plc through equity and pre-funded warrants, and the repayment of specific inventory loans. The company presents these developments as steps that reduce debt, lower interest expense and strengthen its balance sheet.
Operational and corporate updates can feature product and brand innovations, such as the launch of Back Forty Backpackers pre-rolls and the introduction of the South Point brand, as well as expansion into new provincial markets like Quebec. Governance and shareholder-related items, including annual meeting results and board elections, are also disclosed through news releases.
Investors and observers following CBWTF news can use this page to track Auxly’s earnings reports, capital structure changes, brand and product announcements, and other corporate communications that the company distributes through wire services.
Auxly Cannabis Group reported a 147% increase in net sales for Q1 2022, reaching $22.6 million compared to $9.2 million in Q1 2021. Adjusted EBITDA improved by 14% year-over-year. Despite these gains, the company posted a net loss of $39.8 million, largely attributed to a $25.7 million impairment related to the closure of its Annapolis facilities. Auxly remains a market leader in Cannabis 2.0 products with a 20% market share in that category. The company plans to enhance operational efficiencies and aims for positive adjusted EBITDA in 2022.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) will report its Q1 2022 earnings on May 16, 2022, before markets open. The report will cover results for the quarter ending March 31, 2022. Following the earnings release, Auxly will host a conference call on the same day at 10:00 a.m. EST, providing investors an opportunity to discuss the results. A replay will be available on the company's website within 24 hours. Auxly remains a prominent player in the Canadian cannabis market, focusing on innovative and high-quality products.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) reported a 79% increase in net revenues, totaling $83.8 million for 2021. The company maintained its leadership in Cannabis 2.0 product sales with a 15% market share. In Q4 alone, revenues rose to $29.3 million, up 20% quarter-over-quarter. Despite these gains, the net loss improved to $33.7 million, with an adjusted EBITDA loss of $21.7 million. Cash and equivalents decreased by 29% to $14.8 million. Looking forward, Auxly aims to enhance revenue and achieve positive adjusted EBITDA in 2022 with plans for 60 new product launches.
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.
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