DELTA 9 CANNABIS INC. is pleased to announce financial and operating results for the three-month and six-month period ending June 30, 2023.
Financial Highlights for the three-month period ending June 30, 2023
- Net revenue of $18.3 million for the second quarter of 2023, an increase of 4%, from $17.5 million for the same quarter last year.
- Sequential net revenue increased 8% versus $16.9 million for the three-month period ending March 31, 2023.
- Gross profit of $5.2 million for the second quarter of 2023, an increase of 12%, from $4.6 million for the same quarter last year.
- Loss from operations of $(3.5) million for the second quarter of 2023 versus a loss from operations of $(3.4) million for the same quarter last year.
- Adjusted EBITDA of $1.4 million for the second quarter of 2023 versus an adjusted EBITDA (loss) of $(0.4) million for the same quarter last year.
Financial Highlights for the six-month period ending June 30, 2023
- Net revenue of $35.2 million for the first six months of 2023, compared to $30 million for the same period last year.
- Gross profit of $9.4 million for the first six months of 2023, versus $7.6 million for the same period last year.
- Loss from operations of $(4.7) million for the first six months of 2023 versus a loss from operations of $(6.4) million for the same period last year.
- Adjusted EBITDA of $0.8 million for the first six months of 2023 versus an adjusted EBITDA (loss) of $(2.1) million for the same period last year.
- Cash flows from operations of $2.0 million for the first six months of 2023.
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 95,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTC under the symbol “DLTNF”. For more information, please visit www.delta9.ca.
