Australian Cannabis Producer Little Green Pharma Reports Record Revenue, 80% Increase In European Sales QoQ
Australia-based cannabis grower and producer Little Green Pharma (ASX: LPG) reported its financial results for the quarter ended Sep 30, revealing unaudited record revenue of AU$10.2 million ($6.85 million). This marks a 40% increase from the prior quarter and nearly 60% from the corresponding quarter last year.
By product category, the company saw a 45% increase in oil sales, driven by growth in both France and Australia, and over a 35% increase in flower sales, driven by both the company’s brands and white-label sales. At the same time, vaporizer sales declined 20%.
Quarterly Financial Highlights
Cash receipts of AU$10.8 million, up more than 30% from the prior quarter;
Net operating cash inflow of more than AU$1.0 million, resulting in a cash-flow-positive quarter of AU$600,000;
Cost …