Canadian Cannabis Extractor Ayurcann’s Q2 Revenue Jumps Over 81% YoY, Net Loss Grows
Ayurcann Holdings Corp. (CSE:AYUR) (OTCQB:AYURF) (FSE: 3ZQ0) announced its financial and operational results Wednesday for the three and six months ended Dec. 31, 2023, revealing an 81% year-over-year increase in net revenue to CA$5.8 million ($4.3 million) in the second quarter.
The Toronto-based cannabis company focuses on the processing and manufacturing of various derivative cannabis 2.0 and 3.0 products in the recreational market. During the first and second quarters of fiscal 2024, it secured 22 new stock-keeping units in the vape, pre-roll and concentrate categories in Ontario, Alberta, Manitoba, Saskatchewan and British Columbia.
Q2 2024 Financial Highlights
Net loss and comprehensive loss grew to CA$771,622, from CA$129,457 in the prior year’s period.
Expenses amounted to CA$2.7 million, up …