Medipharm Labs (Otc) ( (MEDIF) ) has released its Q4 earnings. Here is a breakdown of the information Medipharm Labs (Otc) presented to its investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
MediPharm Labs Corp. is a pharmaceutical company specializing in precision-based cannabinoids, focusing on the development and manufacture of purified cannabis concentrates and advanced derivative products.
MediPharm Labs reported a significant improvement in its financial performance for the year 2024, with a 27% increase in annual net revenue, reaching $42 million. The company is approaching positive adjusted EBITDA, driven by a record $18 million in international medical cannabis revenue.
Key financial highlights include a gross profit increase to $12.8 million, representing 31% of revenue, and a substantial reduction in adjusted EBITDA loss to $1.9 million, an improvement of 81% compared to the previous year. The company also transitioned key operations to its Barrie facility, resulting in over $1 million in annual savings, and announced the sale of its Hope facility for $4.5 million.
In the fourth quarter of 2024, MediPharm Labs achieved $12 million in revenue, a 32% increase from the same period in 2023, with international revenue accounting for 54% of the total. The company maintains a strong balance sheet with $11.7 million in cash and is materially debt-free.
Looking forward, MediPharm Labs is well-positioned for long-term international success, with management expressing confidence in meeting the growing global demand for premium cannabinoid products. The company continues to focus on innovative pharmaceutical cannabinoid solutions and expanding its global partnerships.