Avant Brands Inc ( (AVTBF) ) has released its Q4 earnings. Here is a breakdown of the information Avant Brands Inc presented to its investors.
Avant Brands Inc., a prominent player in the premium cannabis sector, is recognized for its innovative products and extensive international reach, catering to both recreational and medical markets. The company recently announced its fiscal 2024 earnings, showcasing significant growth driven by strategic international expansion and enhanced operational efficiencies.
In fiscal 2024, Avant Brands achieved record gross and net revenues, with gross revenue reaching $40.0 million and net revenue at $35.8 million. The company also reported a remarkable 107% increase in export wholesale revenue, amounting to $19.4 million, and a 91% rise in cannabis sales, totaling 13,560 kilograms. These achievements highlight Avant’s successful penetration into key international markets such as Australia, Germany, and Israel.
The fourth quarter of 2024 was particularly strong for Avant Brands, with gross revenue increasing by 109% to $12.1 million and net revenue by 127% to $11.0 million compared to the same period in 2023. Export wholesale revenue surged by 352% to $7.3 million, underscoring the global demand for Avant’s premium cannabis products. Despite a gross loss of $1.8 million due to non-cash impacts on biological asset valuations, the company maintained a positive adjusted EBITDA of $2.3 million and adjusted net income of $2.7 million, marking the fourth consecutive quarter of profitability.
Looking ahead, Avant Brands is poised to continue its growth trajectory by expanding its presence in existing international markets and exploring new opportunities in Europe. The company plans to refine its product portfolio to align with consumer preferences and optimize operations to enhance profitability. Avant’s strategic focus on international expansion and partnerships is expected to drive further growth in sales volume and market share.