Delta 9 Cannabis, Inc. (TSE:DN) has released an update.
Delta 9 Cannabis, Inc. has reported a significant improvement in its financial results for 2023, with a 12% increase in net revenues, totaling $71.1 million, and a notable rise in gross profit to $18.0 million, up 39% from the previous year. The company also turned around its adjusted EBITDA from a $5.2 million loss in 2022 to a $3.4 million gain in 2023. Despite a slight quarterly revenue dip in the last quarter, the yearly results indicate a strong reversal from prior losses, as the company navigates the competitive challenges of the Canadian cannabis industry.
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