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Village Farms International reports developments across its cannabis and controlled-environment agriculture businesses, including operating results, Canadian cannabis brands, international medical cannabis exports, and greenhouse capacity. The company operates cannabis activities in Canada, the U.S. and the Netherlands, with Pure Sunfarms as its Canadian licensed producer and Balanced Health Botanicals in CBD and hemp-derived products.
Recurring updates include quarterly and annual financial results, EU-GMP certified cultivation capacity in British Columbia, product and labelling initiatives such as Pure Sunfarms Pink Kush potency-range packaging, credit facility amendments, share repurchases and governance changes. News also covers greenhouse produce operations and expansion activity tied to the company’s cannabis platform.
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Village Farms International (NASDAQ: VFF) announced that CEO Michael DeGiglio will join a fireside chat at the BMO Global Farm to Market Conference in New York City on May 19, 2022, at 1:35 p.m. ET. A live webcast will be accessible on the company's website under the Investors section and will remain archived for 90 days. Village Farms operates as a major supplier in Controlled Environment Agriculture and is expanding into high-growth cannabis and CBD markets across North America and beyond.
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Village Farms reported a 34% year-over-year revenue increase to $70.2 million for Q1 2022, yet faced a net loss of $6.5 million due to inflationary pressures affecting its produce business. The Canadian cannabis segment achieved a record 14 consecutive quarters of positive adjusted EBITDA, driven by Pure Sunfarms maintaining its status as the top-selling dried flower brand in key Canadian markets. The company is focused on leveraging its recent EU GMP certification to expand into international markets.
Village Farms International (NASDAQ: VFF) will host a conference call on May 10, 2022, at 8:30 a.m. ET to discuss its first quarter 2022 financial results. The company plans to release its financial results prior to the call at 7:00 a.m. ET. Interested participants can join the call via telephone or internet. A question and answer session will be limited to analysts, but others can submit questions via email. The call will be archived for replay.
Village Farms International (NASDAQ: VFF) announced participation by CEO Mandesh Dosanjh in a panel discussion on the Canadian cannabis market at the A.G.P. Alliance Global Partners Spring Cannabis Conference on May 3, 2022, at 10:00 AM ET. The event will be accessible via a live webcast on the company's website, with the presentation archived for 90 days. Village Farms, through its subsidiary Pure Sunfarms, is a major player in the cannabis industry and aims to leverage its greenhouse operations to expand in both the Canadian and U.S. markets.
Village Farms International (NASDAQ: VFF) announced that Chief Financial Officer Stephen Ruffini will participate in the 34th Annual ROTH Conference from March 13-15, 2022, in Orange County, California. He is scheduled for a One-on-One Fireside Chat on March 14 at 4:30 PM ET and a Panel Discussion on Cannabis Globalization on March 15 at 3:00 PM ET. The discussions will be available via live webcast on Village Farms' website and archived for 90 days.
Village Farms specializes in controlled environment agriculture and is a leading supplier in the cannabis market.
Village Farms International announced that its subsidiary, Pure Sunfarms, received EU GMP certification for its Delta 3 cannabis facility in British Columbia. This certification allows the company to export medical cannabis to EU markets, particularly targeting Germany, the largest medical cannabis market in the EU, with shipments expected to commence in Q3 2022. The certification is seen as a pivotal step in the company's strategy to expand its international cannabis platform and explore additional markets, including Israel.
Village Farms International reported its financial results for Q4 and the year ended December 31, 2021. The company achieved a 50% year-over-year increase in net sales to $120.8 million and a remarkable 89% rise in adjusted EBITDA to $29.3 million. This marks the 13th consecutive quarter of positive adjusted EBITDA, driven largely by its Canadian cannabis operations, particularly the top-selling Pure Sunfarms brand. The firm expects continued growth and profitability in 2022, bolstered by strategic acquisitions and expanding production capacity.