Village Farms’ Record Q4 Sales Propel It To #2 In Canada’s Cannabis Market
Village Farms International Inc. (NASDAQ:VFF), a Canadian cannabis producer, reported Wednesday its financial results for the fourth quarter and the entirety of 2023. The company showcased a remarcable year with record Q4 sales, marking a significant year-over-year increase.
Q4 2023 Financial Highlights
Revenue increased 7% year-over-year to $74.2 million from $69.5 million
Net loss was $22.5 million, decreasing from the $49.3 million of the same period last year
Adjusted EBITDA loss was $0.66 million, improving from $11.8 million loss in Q4 2022
Canadian Cannabis delivered 14% year-over-year sales increase, positive adjusted EBITDA and cash flow
Full 2023 Financial Highlights
Revenue was $285.6 million, a slight decrease compared to the $293.6 from previous year
Net loss was $31.8 million, a notable improvemement from the $101.1 million of FY 2022
Adjusted EBITDA …