Decibel Cannabis Company Inc. reports news on its Canadian branded cannabis business, including adult-use products, premium cannabis and extract manufactured products, and global medical exports. The company’s portfolio includes General Admission, Qwest and Standard Issue, supported by Canadian cultivation, processing and manufacturing facilities, including an EU GMP licensed cultivation and processing facility in Chatham, Ontario.
Recurring updates cover quarterly and annual financial results, domestic brand performance, international sales, AgMedica integration, credit facilities, stock option grants, shareholder meeting results and other governance matters.
Decibel Cannabis Company, a leading cannabis producer, announced significant progress in launching cannabis derivative products across Canada. Since September 2020, the company introduced 26 SKUs, achieving a 22% market share in concentrates and 9% in vapes by January 2021. Notably, Decibel ranked #1 in concentrate sales under the Blendcraft by Qwest brand in British Columbia and Alberta. The new Thunderchild facility is crucial for future growth, aiming to increase production capacity significantly.
On August 28, 2020, Decibel Cannabis Company (DBCCF) reported its Q2 2020 financial results, achieving a significant milestone with net revenue growth of 17% to $5.9 million, marking its first positive cash flow. Noteworthy highlights include an Adjusted EBITDA loss of $26,000, a substantial decrease from the previous quarter. Sales of the premium Qwest brand rose to 258 kilograms, with average gross pricing at $10.03 per gram. The retail sector saw revenues increase to $3.8 million, aided by a 37% growth in same-store sales. Additionally, Decibel launched new cannabis products and opened two new retail locations in Alberta.