The following is a summary of the Indiva Limited (NDVAF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Indiva reported a Q4 net revenue of $10.9 million, marking a 17% YoY increase, and a gross revenue of $12.6 million, a 22% YoY increase.
For the fiscal year of 2023, Indiva's net revenue reached a record of $37.6 million.
Gross profit before impairments was a record of $4.2 million, a 53% YoY increase, and gross margin improved to 38.5%.
An overall EBITDA of a record positive $900,000 was reported for Q4, and $1.6 million for the full year 2023.
Business Progress:
Indiva launched 27 new SKUs in 2023, focusing on brand development in-house.
Continual operational enhancements were made at its production facility in London, Ontario, along with the introduction of new products like No Future Gummies and vapes.
The company maintains its leadership in market share for sales and units in the edibles category driven by Pearls and No Future gummies.
Indiva commissioned several key automated processes used in processing and packaging its leading edible brands.
The company established an exclusive manufacturing and supply deal of Wana-branded products in Canada with Canopy Growth spanning five years.
They introduced a new value-focused brand described as No Future, which garnered a significant market share post-launch.
The company repaid the principal of the outstanding prom note, aiming to reduce other current liabilities in near-term.
Engaging SSC advisers to assist in evaluating potential strategic alternatives to maximize shareholder value is also in progress, which could include financing options or other consolidation efforts.
More details: INDIVA LIMITED IR
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