CBD Pharma Co. MediPharm: 37% Increase In Q3 International Sales, 15% YoY Revenue Growth
CBD-based pharmaceutical company MediPharm Labs Corp. (TSX:LABS) (OTCQB:MEDIF) (FSE: MLZ) announced its third quarter financial results Thursday for the three months ended Sept. 30, 2024.
Q3 Financial Highlights
- Net revenue totaled CA$9.8 million ($7 million), representing a 15% increase year-over-year, with international medical cannabis sales growing 37% over the same period, accounting for 36% of total revenue.
- Gross margin improved to 32% from 29% in the prior year’s period, driven by cost reductions, production efficiencies, and a favorable product mix.
- Adjusted EBITDA came in negative at $743 000, compared to a larger adjusted EBITDA loss of $2.4 million in the prior year’s period.
- Total comprehensive loss for the period totaled CA$2.7 million, down from CA$4.2 million in the prior year’s period.
- MediPharm …