Green Leaf Innovations Reports Exponential Revenue Growth for 2024

Rhea-AI Summary

Green Leaf Innovations (OTCPK:GRLF), a premium cigar and tobacco products company, reported substantial financial growth for FY2024. The company's annual revenue surged by over 1,000%, reaching $2,366,955 compared to $199,701 in 2023. Fourth-quarter revenue showed significant improvement at $348,907, up from $52,689 in the previous year.

The remarkable growth was primarily attributed to the strategic acquisition of SOFLO Wholesaler Group, a wholesale cigar distributor with over 400 active accounts. This acquisition has strengthened Green Leaf's market position and distribution capabilities.

CEO Roberto Mederos characterized 2024 as a foundation year, acknowledging anticipated losses due to infrastructure investments. The company enters 2025 with expectations of continued revenue growth, improved gross margins, and enhanced operating leverage, while actively exploring additional strategic opportunities including acquisitions and joint ventures.

Positive

• Revenue increased by 1,000% YoY to $2.37M in 2024
• Q4 revenue grew significantly to $348,907
• Acquisition of SOFLO brought 400+ active accounts
• Strong wholesale pipeline and growing customer base

Negative

• Company reported losses in 2024
• Infrastructure investments impacting current profitability

SOFLO Acquisition Fuels 1,000% Sales Surge and Expansion Momentum.

PEMBROKE PINES, FLORIDA / ACCESS Newswire / April 16, 2025 / Green Leaf Innovations, Inc. (OTCPK:GRLF), an emerging growth company specializing in the marketing and distribution of handmade premium cigars and packaged tobacco products, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2024. The Company reported a dramatic increase in annual revenue, climbing from $199,701 in 2023 to $2,366,955 in 2024-marking a more than 1,000% year-over-year surge. Fourth-quarter revenue also accelerated sharply, rising to $348,907 compared to $52,689 during the same period in the prior year.

This explosive top-line growth was primarily driven by the strategic acquisition of SOFLO Wholesaler Group, Inc., a leading wholesale cigar distributor with over 400 active accounts and a strong reputation for premium product offerings and operational efficiency. The acquisition provided an immediate revenue lift and positioned Green Leaf for broader market penetration and sustainable expansion.

"We view 2024 as a foundation year," said Roberto Mederos, CEO of Green Leaf Innovations, Inc. "The revenue growth speaks for itself. Our strategy of aggressive expansion, strategic partnerships, and scaling our wholesale distribution model is delivering. The losses incurred this year were anticipated and reflect our commitment to building the infrastructure necessary to operate at a national level. As revenue continues to scale, we expect these investments to normalize and margin performance to improve."

Looking ahead to 2025, Green Leaf enters the year with a strong wholesale pipeline, a growing customer base, and enhanced operational capacity. Management anticipates continued top-line growth, improved gross margins, and more favorable operating leverage. The Company is also actively evaluating additional strategic opportunities, including accretive acquisitions and joint ventures, aimed at accelerating momentum and enhancing shareholder value.

About Green Leaf Innovations, Inc.

Green Leaf Innovations, Inc. is a premier distributor of handmade premium cigars, including renowned brands such as MEDEROS, MAL.CRI.AO, COCOA (MGE Antalya) CUBANACAN and TABACALERA SERRANO and others. With a commitment to excellence, Green Leaf Innovations is dedicated to delivering the finest products to cigar enthusiasts across the United States. The company is proud to support legislative efforts that protect the integrity of the premium cigar industry.

For press inquiries, please contact:

Additional information can be found on our websites http://www.greenleafinnovation.com or follow us on Twitter @otcgrlf.

For more information, press only:

Phone number: (800) 303-6268
Email: info@greenleafinnovation.com

Safe Harbor Statement:

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Reports on Form 10-K and its other filings with the Securities and Exchange Commission. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.

SOURCE: Green Leaf Innovations, Inc.

View the original press release on ACCESS Newswire

FAQ

What was Green Leaf Innovations (GRLF) revenue growth in 2024?

GRLF's revenue grew by over 1,000%, from $199,701 in 2023 to $2,366,955 in 2024.

How much did GRLF's Q4 2024 revenue increase compared to Q4 2023?

Q4 2024 revenue increased to $348,907 from $52,689 in Q4 2023.

What was the main driver of GRLF's revenue growth in 2024?

The strategic acquisition of SOFLO Wholesaler Group, which brought over 400 active accounts, was the primary driver of revenue growth.

What are GRLF's financial expectations for 2025?

GRLF expects continued top-line growth, improved gross margins, and better operating leverage, while exploring additional strategic opportunities.