Record Gross Margin
Achieved a new all-time high gross margin record of 27.6%, despite lower revenue seasonality leverage.
Cannabis Segment Growth
Cannabis business showed a 16.8% growth, marking 13 consecutive quarters of year-on-year revenue gains.
Free Cash Flow Improvement
Free cash flow improved by $5.3 million year-over-year, showing marginally negative at minus $1.1 million despite seasonality.
Cannabis Operations Revenue Surge
The Cannabis Operations segment posted a 53% revenue growth driven by the acquisition of Indiva and productivity improvements.
Strategic Investments and Acquisitions
Acquired a minority stake in High Tide and announced the acquisition of 32 cannabis retail doors from 1CM.
Operational and Efficiency Improvements
Productivity initiatives and efficiency improvements were executed well across all business areas.