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About Auxly Cannabis Group Inc. (TSX: XLY, OTCQB: CBWTF)
Auxly Cannabis Group Inc. is a leading Canadian consumer-packaged goods (CPG) company specializing in cannabis products. Headquartered in Toronto, Auxly operates across the full cannabis value chain, focusing on cultivating, processing, and distributing a diverse portfolio of high-quality cannabis products. The company’s mission is to help consumers live happier lives through trusted and innovative cannabis solutions.
Core Business and Product Portfolio
Auxly’s product portfolio spans key categories, including dried flower, pre-rolls, vapes, oils, and other Cannabis 2.0 products. The company has established itself as a leading player in the Canadian recreational cannabis market, leveraging its advanced cultivation facility, Auxly Leamington, to produce high-quality cannabis at a competitive cost. Auxly’s flagship brands, such as Back Forty and Kolab Project, are recognized for their innovative formats and consumer-centric designs, particularly in the fast-growing vape and pre-roll segments.
Operational Excellence and Market Position
Auxly’s operational strategy is underpinned by its vertically integrated model, which allows the company to control every aspect of production, from cultivation to distribution. The Auxly Leamington facility, a state-of-the-art greenhouse, serves as a cornerstone of the company’s low-cost cultivation strategy. This facility has enabled Auxly to achieve industry-leading gross margins and consistently meet the demands of both retail and wholesale markets.
In the competitive Canadian cannabis landscape, Auxly has secured a top-five position among licensed producers by retail sales. The company’s focus on efficiency and innovation has driven significant market share gains, particularly in the all-in-one vape category, where its Back Forty brand holds a dominant position. Auxly’s products are distributed nationwide, including in Quebec, marking a significant milestone in its expansion strategy.
Innovation and Consumer-Centric Approach
Auxly is committed to product innovation, continuously enhancing its offerings to meet evolving consumer preferences. Recent launches include advanced pre-roll formats and all-in-one vape hardware with customizable features. The company’s emphasis on quality, safety, and efficacy has fostered strong consumer trust and loyalty, positioning Auxly as a preferred choice in the Canadian cannabis market.
Financial Performance and Strategic Growth
Auxly has demonstrated a strong financial trajectory, achieving record-breaking revenues and adjusted EBITDA in recent quarters. The company’s focus on sustainable growth, operational efficiency, and cost management has resulted in improved profitability and cash flow. Strategic initiatives, such as the conversion of debt into equity by Imperial Brands, have further strengthened Auxly’s financial position, enabling it to invest in future growth opportunities.
Challenges and Competitive Landscape
Despite its successes, Auxly operates in a challenging environment characterized by regulatory complexities, price compression, and competition from both legal and illicit markets. The company addresses these challenges through its low-cost cultivation model, innovative product development, and strategic partnerships. Auxly’s ability to adapt and thrive in this dynamic market underscores its resilience and commitment to long-term success.
Future Outlook
Looking ahead, Auxly remains focused on driving sustainable growth and profitability. The company plans to expand its product portfolio, deepen relationships with key retail partners, and optimize its operational efficiencies. With a strong foundation in place, Auxly is well-positioned to capitalize on the evolving cannabis market and deliver value to its stakeholders.
Conclusion
Auxly Cannabis Group Inc. stands out as a dynamic and innovative player in the Canadian cannabis industry. Through its commitment to quality, operational excellence, and consumer satisfaction, Auxly continues to set benchmarks for success in the competitive cannabis market.
Auxly Cannabis Group (OTCQB: CBWTF) reported record-breaking Q3 2024 financial results with net revenues of $33.3 million, up 18% year-over-year. The company achieved a gross margin of 47% and record adjusted EBITDA of $8.3 million. Net income was $3.2 million with operating cash flow of $12.9 million. The company reduced its debt by 54% compared to end of 2023. Auxly moved to #4 position in national recreational sales, leading the all-in-one vape category with 36% market share. Back Forty's Liquid Imagination became the #1 selling flower nationally, while pre-roll sales increased 19% quarter-over-quarter.
Auxly Cannabis Group (TSX: XLY) (OTCQB: CBWTF) has announced it will release its third quarter 2024 financial results on Friday, November 8, 2024, before market open. The results will cover the period ended September 30, 2024. The company has directed all investor inquiries to IR@auxly.com.
Auxly Cannabis Group reported record revenue and profitability for Q2 2024. Net revenues reached $29.2 million, a 33% increase year-over-year and a 16% rise from the previous quarter. Gross Margin on Finished Cannabis Inventory Sold hit an all-time high of 41%, a 14% improvement year-over-year. Adjusted EBITDA surged by over 580% to $5.2 million. SG&A expenses were slightly reduced by $0.2 million compared to the same period in 2023, net of restructuring costs. Net income stood at $2.0 million, with positive cash flow from operations of $2.9 million. The company reported a 48% reduction in debt compared to the end of 2023. Auxly maintained its market leadership in the all-in-one vape category, securing over 32% of the total market share. The Back Forty brand continued to dominate with the top four all-in-one vape SKUs and achieved strong performance in dried flower and pre-rolls. Despite the gains, Auxly reported a net loss of $24.0 million for the six months ended June 30, 2024, including deferred tax expenses.
Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) has announced that it will release its second quarter 2024 financial results on Thursday, August 15, 2024, before the financial markets open. The report will cover the period ended June 30, 2024. This announcement serves as a notice to investors and analysts who are interested in the company's financial performance. Auxly has directed all investor inquiries to be sent to IR@auxly.com. The announcement was made by CEO Hugo Alves on behalf of the board.
Auxly Cannabis Group (TSX: XLY, OTCQB: CBWTF) announced the results of its annual general and special meeting of shareholders held on June 28, 2024. Over 407 million shares, representing 32.55% of the outstanding common shares, were voted. All proposals presented were approved, including the re-appointment of Ernst & Young LLP as auditors and the re-approval of the 2021 Equity Incentive Plan, which passed with 86.21% of the votes. Directors Genevieve Young, Hugo Alves, Troy Grant, Vikram Bawa, and Conrad Tate were re-elected. The Share Consolidation Resolution was removed from the agenda. Detailed voting results are available on SEDAR.
Auxly Cannabis Group announced its Annual General Meeting of Shareholders on June 28, 2024, at 10:00 a.m. EST, at McCarthy Tétrault LLP, Toronto. Due to seating, shareholders must pre-register by emailing IR@auxly.com at least 48 hours before the meeting. An audio teleconference will be available for real-time listening. Shareholders are encouraged to vote in advance as teleconference participants cannot vote or otherwise participate in the meeting. Additional meeting details are in the Management Information Circular, accessible on SEDAR+ and the company's website.
Auxly Cannabis Group Inc. reported record financial results for Q1 2024 with net revenues of $25.2 million, a 5% increase from the same period in 2023. The company achieved a gross margin of 38% and an adjusted EBITDA of $2.2 million, a 1,523% improvement year-over-year. Auxly reduced SG&A costs by 11% and strengthened its balance sheet through debt conversion. The company maintained its top 10 LP position in Canada and continued to lead in the vapor category and pre-roll market. Additionally, Auxly expanded product offerings to Quebec and introduced new 0.75g pre-rolls.
Auxly Cannabis Group Inc. (CBWTF) will release its first-quarter 2024 financial results on May 13, 2024. The report will cover earnings for the period ending on March 31, 2024. Investors can expect the release before the markets open, with inquiries directed to IR@auxly.com.
Auxly Cannabis Group Inc. expands into Quebec, launching new pre-roll and vape products, including Back Forty slim style pre-rolls and innovative vape hardware. The company introduces Liquid Imagination cultivar and new flavour profiles like White Freeze and Kolab Project. Auxly aims to capture the Quebec market, strengthen national presence, and cater to evolving consumer needs.
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