Adastra Holdings Triumphs with Record Revenues

Adastra Labs Holdings Ltd. (TSE:XTRX) has released an update.

Adastra Holdings Ltd. celebrates a remarkable year with a record-breaking $37.7 million in gross revenue for FY2023, a 108% increase from the previous year, driven by strong demand for their Endgame Extracts brand. Despite a gross profit surge to $7.6 million, the company faced a loss from operations, largely due to heightened marketing efforts. Their operational efficiency is underscored by a doubling of cash from operations, reflecting adept management of cash flows.

For further insights into TSE:XTRX stock, check out TipRanks’ Stock Analysis page.