Cannara Biotech reports Q3 EPS C$0.02 vs. C$0.03 last year

Reports Q3 revenue C$19.5M vs. C$15.9M last year. “We’re delighted to share that Cannara continues to show strong performance, with net revenues reaching $19.5 million this quarter, a 22.6% increase from the previous year,” commented Zohar Krivorot, President & Chief Executive Officer of Cannara. “Historically, our sales growth has been driven by great customer loyalty and strong demand for our products, amplified by organic word-of-mouth promotion. However, as indicated by our flat quarter-to-quarter results, this can only take us so far. To continue our expansion across the country, we have begun enhancing our sales force and infrastructure. These strategic investments are expected to drive significant returns. As we achieve greater sales volumes, it’s crucial to deploy more sophisticated sales and marketing strategies to enhance our distribution and market share and we have begun to do so. By investing in these areas and preparing for our next cultivation expansion phase, we are confident in Cannara’s ability to thrive. Our innovative products under Tribal, Nugz, and Orchid CBD will continue to deliver premium quality at accessible prices, ensuring our position as a leading licensed producer in Canada.”