Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, announced its third-quarter financial results on Tuesday for the three and nine-month periods ending September 30, 2022.
"Our third quarter results coupled with another record market share month to start the fourth quarter continue to demonstrate our focus on achieving our 2022 operational outlook", said Paul Wilson, CEO of Decibel.
- Record National Market Share: Achieved 5.3% in October 2022 which places Decibel as the 6th largest LP in Canada by market share.
- Net Revenue: $18.3 million of total net sales in Q3, with a sequential decline of 1% over Q2 2022 and an increase of 37% over Q3 2021.
- Record Gross Margin Before Fair Value Adjustments: Significant sequential improvement to 52% in Q3, compared to 41% in Q2 2022 and 31% in Q3 2021.
“The increase was driven by investments made during the summer, including operational …