Decibel Cannabis Company Inc (TSE:DB) has released an update.
Decibel Cannabis Company Inc. reported a significant financial upturn for year-end 2023, with record net revenue of $116 million, a 46% jump from the previous year, and a 52% increase in adjusted EBITDA to $25.9 million. Despite these annual gains, the fourth quarter saw a decrease in adjusted EBITDA by 27% and a slight decline in adjusted net income due to increased sales and marketing expenses and the launch costs for their new vape system, Blinker. Internationally, Decibel expanded its reach with its first craft cannabis export to Australia and a new supply agreement with an Israeli company, although it faced a receivable default from another Israeli customer.
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