LEEF Brands Cannabis Co. Reports Revenue Growth, Higher Operating Expenses In Q3
Cannabis operator LEEF Brands, Inc. (CSE:LEEF) (OTC:LEEEF) announced its financial results for the three months ended Sept. 30, 2024, with revenue of $6.76 million, compared to $5.67 million for the same period last year.
The British Columbia-based company noted the increase in revenue was primarily due to market pricing changes and a focus on boosting margins and positive operating cash flow. Its customer base has increased with expansion into other verticals as well as the acquisition of The Leaf in January 2023.
“I’m proud of our team for driving positive momentum this quarter, making substantial progress on key initiatives, innovations and infrastructure upgrades, including the completion of Phase 1 construction at Salisbury Canyon Ranch,” stated CEO Micah Anderson. “This 1,900-acre ranch with a 187-acre cultivation permit, positions us for our first planting in spring 2025. Additionally, we’ve invested significantly in our extraction technology, increasing our overall capacity by 32%, which will enable larger product output in the coming year. We’re optimistic about the opportunities ahead and excited about the strong foundation we’re …