Canadian cannabis edibles producerIndiva Limited(TSXV:NDVA) (OTC:NDVAF) announced on Thursday itsfinancial and operating results for the fourth quarter and fiscal year ended Dec. 31, 2023.
The company reported a53.3% increase year-over-year increase in gross profit before inventory write-down to CA$4.2 million (roughly $3 million) for the fourth quarter.
Gross margin before inventory write-down improved to a record 38.5% of net revenue, versus 37.1% in the prior quarter and 29.3% in the prior year's period.
Indiva attributed the improvement in gross margin percentage year over year to higher sales, improved operating efficiencies and a positive mix shift toward...
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