This Undervalued Cannabis Stock Has Another Year Of Growth: Reports Record 2023 Revenue And Adjusted EBITDA
Decibel Cannabis Company Inc. (TSXV:DB) (OTCQB:DBCCF) reported its audited financial results on Monday for the three and twelve month periods ending Dec. 31, 2023.
The Alberta-based company said it saw a record net revenue of CA$116 million ($84.8 million) in 2023, an increase of 46% over 2022.
“The Company’s fourth quarter financial results delivered another year of growth across all metrics and I look forward to working with the team to continue to build on this success,” said Benjamin Sze, Decibel’s new CEO. Sze was recently appointed to serve as Decibel’s CEO, succeeding Paul Wilson. He rejoined the company after previously serving as CEO before resigning in late 2020 for personal reasons.
Decibel kicked off 2024 strong by completing its first export of craft cannabis to Australia in March 2024. This followed receiving its first purchase order for vapes to export to Australia.
See also: Undervalued Cannabis Stock? This Company Could Reach A C$1B Valuation On The Back Of …