Welcome to our dedicated page for Nextleaf Solutions news (Ticker: OILFF), a resource for investors and traders seeking the latest updates and insights on Nextleaf Solutions stock.
Nextleaf Solutions Ltd (OILFF) is a pioneering cannabis processor leveraging patented extraction technologies to serve medical and recreational markets. This page aggregates official news and verified updates about the company’s financial performance, product innovations, and strategic partnerships.
Investors and industry stakeholders will find timely announcements including quarterly earnings, intellectual property developments, and regulatory milestones. Our curated collection simplifies tracking OILFF’s progress in scaling its automated distillation systems and expanding its Glacial Gold product line.
Key updates cover FDA-compliant manufacturing advancements, bulk ingredient supply agreements, and participation in cannabis industry initiatives. All content is sourced directly from corporate communications to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to OILFF’s latest operational developments and market positioning within the evolving cannabis biotech sector. Check regularly for insights into how Nextleaf’s closed-loop processing technology continues redefining cannabinoid production efficiency.
Nextleaf Solutions (CSE: OILS) (OTCQB: OILFF) has provided a strategic update on their Commercial Partners Program™. The program focuses on mutually beneficial agreements, strategic alignment, and leveraging core capabilities. Nextleaf offers services including rapid innovation, contract manufacturing, white labeling, toll-processing, and bulk ingredient sales.
A key highlight is the partnership with Miracle Valley, a licensed producer from Mission, BC. Nextleaf will launch Miracle Valley's Crafty Cuts Pre-roll Sampler and Premium Craft Flower in the Ontario retail market, marking Miracle Valley's re-entry into the Canadian recreational market after focusing on exports since late 2022.
The company views the competitive landscape as a collaborative race, aiming for mutual success within the industry. Nextleaf has also identified opportunities to optimize operations by transitioning select activities to offsite partners.
Nextleaf Solutions reported a record net revenue of $3.4 million for Q2 2024, marking a 7% increase from the previous quarter and a 57% rise compared to Q2 2023. The company achieved gross margins of 28%, up from 20% in the same period last year. Despite the revenue growth, the company posted a loss of $1.01 million due to a non-cash share-based compensation expense. Adjusted EBITDA was $232,682 for Q2 2024, with a six-month total of $554,638. Key achievements include nine new product launches, strong growth in cannabis softgel and THC oil SKUs, and a successful first shipment of white label vapes. The company also reduced its CRA liability by $740,000 and launched a new category of MAX THC infused pre-rolls.
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