Welcome to our dedicated page for Decibel Cannabis news (Ticker: DBCCF), a resource for investors and traders seeking the latest updates and insights on Decibel Cannabis stock.
Decibel Cannabis Company Inc. (DBCCF) delivers premium cannabis products through brands like General Admission and Qwest, focusing on cultivation excellence and global market expansion. This news hub provides investors with official updates on strategic developments, financial performance, and operational milestones.
Access timely announcements including earnings reports, product innovations, regulatory compliance updates, and international expansion plans. Our curated collection ensures transparent tracking of the company's progress in optimizing production processes and strengthening its position in competitive cannabis markets.
Key updates cover cultivation advancements, supply chain developments, brand portfolio enhancements, and leadership initiatives. Bookmark this page for direct access to Decibel's verified corporate communications, helping you make informed decisions about this innovative cannabis producer.
Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF) has announced positive results from its recent focus on dried flower products. The company's QWEST brand relaunch in Alberta, BC, and Ontario has been well-received, with:
- 98% of surveyed budtenders recommending QWEST products
- Over 500% increase in depletions from distribution centers
- 400% growth in retail market share for dried flower in the past 4 weeks
Decibel is also expanding internationally, with upcoming shipments to the UK, Australia, Israel, and Germany. The company has applied for an extension to hold its annual shareholder meeting by December 31, 2024. Additionally, Warren Matzelle, Chief Product Development and Marketing Officer, has resigned effective September 6, 2024.
Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF) announced its Q2 2024 results, showing a 22% year-over-year decrease in net revenue to $22.1 million. The company maintained a 5.6% national market share, ranking 4th among Canadian licensed producers. Gross margin before fair value adjustments was 42%, slightly down from 43% in Q2 2023. Adjusted EBITDA decreased by 46% to $3.9 million, while free cash flow increased by 194% to $0.9 million. The company reported positive adjusted net income of $0.6 million and adjusted EPS of $0.00. Decibel is addressing market share declines through brand relaunches and product introductions.
Decibel Cannabis Company has announced initiatives to improve operating efficiencies and reduce expenses, focusing on process optimization, portfolio rebalancing, labor adjustments, and new market exploration. The company plans to relaunch its QWEST brand to recapture market share in the dried flower category. Additionally, Decibel has begun shipping vape products to Australia and plans to expand into the UK by early Q3 2024. The company has optimized its product portfolio, paused capex initiatives, and reorganized cultivation processes to enhance efficiency and quality. These efforts are expected to reduce annual SG&A by $2 million and strengthen the balance sheet. KPMG LLP will exit as the auditor, with a new auditor to be appointed in July 2024.
Decibel Cannabis Company announced its unaudited interim financial results for Q1 2024 ending March 31. The company reported a net revenue of $21 million, reflecting a 16% year-over-year decline. This decrease was driven by increased competition and a shift in consumer preferences.
Gross margin before fair value adjustments stood at 48%, down from 51% in Q1 2023. The adjusted EBITDA was $3.6 million, showing a 45% decrease. Despite these declines, Decibel maintained a free cash flow of $375,000, 79% lower than the previous year. Adjusted net loss for the quarter was $3.5 million, significantly impacted by a $3.3 million asset impairment. National market share was at 6%, making Decibel the 4th largest licensed producer in Canada. CEO Benjamin Sze remains optimistic about future growth and profitability.
Decibel Cannabis Company Inc. announces its audited financial results for the year and fourth quarter ending December 31, 2023. The company saw a record net revenue of $116 million in 2023, a 46% increase over 2022. Adjusted EBITDA reached $25.9 million, up 52% over 2022. However, in the fourth quarter of 2023, the company reported a decline in Adjusted EBITDA by 27% year over year, with an Adjusted Net Income of negative $132 thousand. Decibel faced challenges with bad debt expense and launch costs for their Blinker vape system. The company also finalized international developments with exports to Australia and Israel, although facing payment default from an Israeli customer, leading to legal actions.
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