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Canadian Marijuana Company Reports 5th Consecutive Quarter Of Positive Cash Flow From Operations

Benzinga ·  10/18/2023 04:53

Canadian cannabis company Avant Brands Inc. (TSX:AVNT) (OTCQX:AVTBF) (FRA:1BU0) reported its financial results for the third quarter of fiscal 2023, disclosing net revenue of CA$6.5 million ($4.8 million) up by 64% year-over-year and down by 18.75% sequentially. "Q3 2023 continued our trend of delivering strong year-over-year sales growth, coupled with positive cash flow from operations," stated Norton Singhavon, CEO of Avant. "Furthermore, Q3 2023 was by far our best quarter for cannabis harvests, which sets the stage for additional sales growth in Q4 2023 and beyond." See Also: Avant Q2 FY23 Net Revenue Grows 96% YoY, What About Adjusted EBITDA Q3 Financial Highlights Gross revenue was CA$7.5 million

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