Auxly Cannabis Group Inc. (OTCQB: CBWTF) (TSX:XLY) released its financial results for the three months ended March 31, 2023, revealing net revenue of CA$24.0 million in Q1 2023, an increase of 6% compared to CA$22.6 million the same period in 2022.
Q1 2023 Highlights
Gross profit of CA$7.9 million, an increase of CA$4.2 million as compared to the same period in 2022, which includes the impacts of non-cash impairments and fair value adjustments.
Gross profit margin was 33% versus 16% in the same period of 2022.
Net loss was CA$10.2 million, representing a net loss of CA$0.01 per share on a basic and diluted basis, compared to net loss of CA$39.8 million or CA$0.05 per share on a basic and diluted basis in Q1 2022.
Adjusted EBITDA was positive CA$138,000, an improvement of CA$6.5 …