Avant Brands Inc (OTCQX: AVTBF) (TSX:AVNT) (FRA:1BU0) net revenue in fiscal 2022 was a record of CA$20.2 million ($14.87 million), a 112% increase compared to CA$11 million in fiscal 2021.
Q4 FY 2022 Financial Highlights
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Net Revenue was a record of CA$7.9 million (+238% vs. Q4 2021 | +100% vs. Q3 2022)
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Gross margin of 38% (+4% vs. Q4 2021 | +1% vs. Q3 2022)
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Adjusted EBITDA was a record of CA$1.6 million (+208% vs. Q4 2021 | +124% vs. Q3 2022)
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Adjusted EBITDA margin (% of net revenue) of 20% (+83% vs. Q4 2021 | +2% vs. Q3 2022)
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Net loss from operations of CA$2.5 million (primarily due to fair value changes to biological assets, which are non-cash items) (+5% vs. Q4 2021 | -427% vs. Q3 2022)
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Second consecutive quarter of positive adjusted EBITDA and positive cash flow from operations
Fiscal 2022 Financial Highlights
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Gross margin of 32%, (-7% vs. FY2021)
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Adjusted EBITDA was a record of CA$1.9 million (+221% vs. FY2021)
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Adjusted EBITDA margin (of net revenue) of 9%
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Net loss from operations of CA$8.5 million, compared to a loss of CA$5.4 million in FY2021
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Three of four quarters in fiscal 2022 were positive adjusted EBITDA and positive cash flow from operations
"The results from Q4 and Fiscal 2022 illustrate a robust growth profile for Avant Brands, along with record adjusted EBITDA and cash flow from …