British Columbia producer Avant Brands reported record net revenue of 26.3 million Canadian dollars ($19.4 million) from the sale of 7,105 kilograms (15,663 pounds) of cannabis.
That’s CA$6.2 million more than the CA$20.1 million in net revenue recorded in 2022 from the sale of 3,934 kilograms of cannabis, the company said in its financial results for the fiscal year ended Nov 30, 2023.
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Avant attributed the increase primarily to impressive CA$1.4 million growth in recreational net sales and CA$5 million growth in international exports.
The record sales helped improve Avant’s net loss to CA$1.5 million for the year, 82% lower than fiscal 2022.
Cash flow from operations was a positive CA$5.4 million, a 256% increase over fiscal 2022.
However, a note from the
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