Welcome to our dedicated page for ALEAFIA HEALTH ORD news (Ticker: ALEAF), a resource for investors and traders seeking the latest updates and insights on ALEAFIA HEALTH ORD stock.
Aleafia Health Inc. (TSX: AH, OTCQB: ALEAF) is a premier, vertically integrated, federally licensed Canadian cannabis company. Focused on delivering high-quality health and wellness products, Aleafia Health operates medical clinics, education centers, and production facilities across Canada and international markets. The company boasts three significant licensed cannabis production facilities, including the first large-scale legal outdoor cultivation facility in Canadian history.
Aleafia Health's diverse portfolio includes oils, capsules, sprays, dried flower, pre-rolls, vapes, edibles, sublingual strips, and topicals. The company's medical cannabis clinics and education centers are staffed by physicians, nurse practitioners, and educators, creating the largest national network of its kind in Canada. Internationally, Aleafia Health is active in three continents, including Australia and Germany.
Recent financial highlights include the second consecutive quarter of positive Adjusted EBITDA with a 14% Adjusted EBITDA margin, placing Aleafia among the top three for profitability in its sector. The company reported a 39% growth in adult-use revenue from the prior quarter and a 40% increase in medical net revenue, achieving a record $1.1 million month in November 2022. Aleafia also shipped its first orders under new European agreements, estimating $1 million in sales to its second European partner.
Despite industry-wide challenges, Aleafia achieved a 37% gross profit before fair value adjustments, reflecting a strategic focus on cost containment and profitability. The company's adult-use brand, Divvy, remains a key driver, contributing to notable revenue growth and market share. Aleafia's expansion into Manitoba and successful international ventures are testaments to its robust operational capabilities and strategic foresight.
However, Aleafia Health is navigating financial pressures, including breaches of certain covenants under its Senior Secured Loan Agreement. The company has entered creditor protection under the Companies' Creditors Arrangement Act (CCAA), aiming to restructure its business and financial affairs. Red White & Bloom Brands Inc. (RWB) has been selected as the successful bidder for Aleafia's assets in a court-supervised sale process, subject to court approval.
Aleafia Health remains committed to maximizing value for its stakeholders while continuing to focus on innovation, strategic growth, and delivering high-quality cannabis products to its customers.
Aleafia Health, a Canadian cannabis company, will announce its fiscal year 2023 third quarter results on February 8, 2023, prior to market opening. The announcement will include results for the period ending December 31, 2022. A conference call, hosted by CEO Tricia Symmes and CFO Matt Sale, is scheduled for 8:30 a.m. EST on the same day. Investors can access the live webcast and participate via a phone registration link provided in the announcement. Aleafia Health operates licensed cannabis production facilities and a virtual network of medical cannabis clinics.
Aleafia Health has secured a new European cannabis distribution partnership, signing a one-year agreement worth approximately $1 million. This partnership enhances the company’s international growth, contributing to a total of $1.2 million in year-to-date sales. CEO Tricia Symmes emphasized the importance of this relationship for expanding into the high-potential European market. Additionally, David Pasieka has been appointed as the new Board Chair, replacing Mark Sandler, who retired after significant contributions to the company. Aleafia Health aims for continued growth and profitability through strategic international agreements.
Aleafia Health has successfully completed its TSX delisting review, confirming compliance with the Toronto Stock Exchange's listing requirements. The company is now free from further review, allowing it to continue trading on the TSX. Additionally, Aleafia has expanded its adult-use cannabis portfolio into Manitoba, its fifth province, reaching over 70% of the Canadian population. The company launched a portfolio of twelve products in mid-November, aimed at boosting sales during the holiday season.
Aleafia Health reported significant progress in its Q2 FY2023 results, achieving a milestone with an Adjusted EBITDA of $0.1 million, a turnaround from a loss of $8.8 million the previous year. Total revenue rose by 21% to $14.5 million, with branded cannabis revenue increasing by 23% to $9.4 million, driven by the success of the Divvy brand. The company also saw a record $0.7 million in international revenue and improved gross profit margin at 35%. Cost-saving measures, including the wind down of the Grimsby greenhouse, are set to save $4.1 million annually.
Aleafia Health will announce its fiscal Q2 2023 results on November 9, 2022. The announcement will be made before market open, followed by an earnings conference call at 8:30 a.m. EST on the same day. CEO Tricia Symmes and CFO Matt Sale will lead the call. Aleafia Health, a vertically integrated Canadian cannabis company, operates multiple production facilities and offers a range of cannabis products for medical and adult-use markets. Investors are encouraged to join the call and access a replay if missed.
Aleafia Health is expanding its product offerings with the launch of the Sunday Market House of Brands winter lineup, featuring 16 new products by February 2023. This includes 9 new Divvy products in profitable categories like flower, vape, and milled cannabis. Notable additions include the new high-THC flower offering, a balanced THC:CBD Black Widow vape cartridge, and a THC-infused Quebec Maple Syrup. CEO Tricia Symmes highlighted the opportunity to brighten holiday gatherings with giftable products, while CFO Matt Sale emphasized the strategic growth of the Divvy brand amid strong consumer demand.
Aleafia Health Inc. announced the successful election of all six director nominees during its annual meeting held on September 27, 2022. The nominees received significant support from shareholders, with voting results showing a high percentage of approval ranging from 97.62% to 97.96%. The finalized results will be available on the Company's SEDAR profile. Aleafia Health is a licensed Canadian cannabis company offering a variety of products in domestic and international markets, including Australia and Germany, and operates a virtual medical cannabis clinic.
Aleafia Health has announced that the Toronto Stock Exchange has extended its delisting review period until November 29, 2022. This decision follows previous announcements regarding the company's status. Aleafia Health provides cannabis products in both Canadian adult-use and medical markets and operates a virtual medical cannabis clinic to offer health services across Canada. The company aims to keep stakeholders updated on future developments.
Aleafia Health reported a 31% increase in branded cannabis net revenue, reaching $10.0 million in Q1 FY2023. The company holds a #12 ranking for market share and achieved a 12% increase in medical cannabis revenue. Notably, Aleafia secured a new international partnership with a $4.6 million sales commitment. The company reaffirmed its guidance for FY2023, expecting $53 million to $63 million in net revenue. Despite a -0.9 million Adjusted EBITDA, it aims for breakeven profitability by FY2023's end.
Aleafia Health will announce its fiscal year 2023 first quarter results on August 11, 2022, prior to market open. The earnings conference call is scheduled for 8:30 a.m. EST on the same day, led by CEO Tricia Symmes and CFO Matt Sale. This announcement will cover key financial outcomes for the period ending June 30, 2022, and provide insights into the company's performance. Aleafia operates multiple licensed cannabis production facilities and offers a range of cannabis derivative products for both medical and adult-use markets.
FAQ
What is the market cap of ALEAFIA HEALTH ORD (ALEAF)?
What does Aleafia Health Inc. do?
What are some of Aleafia Health's recent financial achievements?
What products does Aleafia Health offer?
Where does Aleafia Health operate?
What challenges is Aleafia Health currently facing?
Who has been selected as the successful bidder for Aleafia's assets?
What is the significance of Aleafia's Divvy brand?
How is Aleafia Health addressing financial challenges?
What are Aleafia Health's international operations?
What is Aleafia Health's strategy for future growth?
