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 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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