Decibel Cannabis Stock Price, News & Analysis

Decibel Cannabis Company announced its expansion into New Brunswick after receiving approval from Cannabis NB, the province's exclusive recreational cannabis retailer. The company expects to receive its first purchase order in early September. This expansion follows Decibel's existing presence in six other provinces, including British Columbia and Ontario. The company operates multiple production facilities and a retail business, Prairie Records, focusing on high-quality cannabis products. The announcement is part of their strategy to grow brand recognition across Canada.

Decibel Cannabis Company has granted 2,500,000 stock options to its CEO, effective after market close on August 17, 2021. Each option is exercisable for one common share at a price of $0.34, coinciding with the closing stock price on the same day. The options will vest in equal installments on January 1, 2022, 2023, and 2024, expiring on January 1, 2026. Decibel operates three production facilities and is committed to producing high-quality cannabis products and innovative formats such as concentrates and edibles.

Decibel Cannabis Company reported its Q2 2021 financial results, achieving $12.4 million in net revenue, down 1% from the previous quarter but up 111% year-over-year. The company boasts a 41% gross margin and a record $2.1 million in adjusted EBITDA for the fourth consecutive quarter. The reduced revenue was influenced by seven weeks of stock-outs amid COVID restrictions, although sales surged as restrictions eased in June. Decibel is expanding its operations in Ontario and enhancing product innovation, anticipating increased consumer demand.

Decibel Cannabis Company Inc. (DBCCF) is set to release its 2021 second quarter financial results on August 16, 2021, before the market opens. The company emphasizes its commitment to high-quality cannabis production and operates three production facilities along with a retail business, Prairie Records. Notable cultivation spaces include the 26,000 sq ft Qwest Estate in Creston, BC, and the 80,000 sq ft Thunderchild Cultivation in Battleford, SK. The company aims to expand its product offerings into new formats, including edibles and vapes.

Decibel Cannabis Company has formed a strategic partnership with Union Cannabis Group to enhance its product offerings in the Canadian cannabis market. This collaboration grants Decibel exclusive rights to UCG's unique formulations for vapes and concentrates, enriching its existing brand portfolio with UCG's Dabstract brand. Decibel aims to strengthen its product pipeline and maintain high-quality standards in this growing sector.

Decibel Cannabis Company has appointed Paul Wilson as its new Chief Executive Officer, effective June 23, 2021. Wilson, who has a strong background in brand building with leadership roles at notable Canadian companies, aims to enhance Decibel's growth strategy. The board highlighted his experience and strategic vision as key factors in the selection process. Under Wilson's leadership, Decibel plans to strengthen its premium cannabis brands like Qwest and Qwest Reserve, tapping into the evolving cannabis market.

Decibel Cannabis Company has announced the launch of its premium concentrate brand, Pressed by Qwest, along with new dried flower, pre-roll, vape, and concentrate products. As part of its strategy, Decibel aims to increase its flower production capacity from 1,800 kg to 9,000 kg by the end of 2021. The company plans to introduce seven new rare cultivars and is set to enter the pre-roll category. Additionally, early-stage harvests at Thunderchild have exceeded expectations with THC levels ranging from 24% to 28.5%. The launch of Pressed by Qwest is anticipated to enhance market share in the cannabis sector.

Decibel Cannabis Company held its annual general meeting on June 10, 2021, where shareholders approved all proposed matters. Key outcomes include the election of three directors: Cody Church, Paul Wilson, and Michael Kelly, and the appointment of KPMG LLP as auditors. The company emphasized remote participation for shareholders amid the COVID-19 pandemic. Decibel operates production facilities in BC, SK, and AB, focusing on high-quality cannabis products with brands like Qwest and Prairie Records. This meeting marks a significant step in Decibel's governance and operational strategy.

Decibel Cannabis Company reported record first-quarter results for the three months ending March 31, 2021. The company achieved a net revenue of $12.6 million, marking an 11% increase from the previous quarter and a 151% rise year-over-year. Adjusted EBITDA reached $2.0 million, an 84% increase from Q4 2020. Decibel holds the #1 position in premium flower sales (8.4% market share) and concentrates (21.9% market share) across key provinces. Despite a 15% decline in retail sales due to seasonality, overall growth remains strong, supported by new product launches and a strengthened balance sheet.