Indiva (TSE:NDVA) has released an update.
Indiva Limited, a leader in Canadian cannabis edibles, reported a slight year-over-year increase in gross revenue for Q1 2024 despite facing a seasonally weak quarter, with significant growth in core brands like Pearls gummies and No Future gummies. The company experienced a shift in its product lineup, successfully offsetting declines in Wana Sour Gummies revenue with a greater contribution from its own brands, resulting in over 30% of net revenue coming from Indiva-owned products. With a focus on innovation and a pipeline of new releases planned for mid-2024, Indiva is poised for sustained organic growth.
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