DECIBEL CANNABIS CO INC - DBCCF STOCK NEWS

Decibel Cannabis Company reported impressive financial results for the year ending December 31, 2022, showcasing strong growth and market presence. The company achieved record net revenue of $79.3 million, marking a 51% increase from the previous year. Adjusted EBITDA reached $17.0 million, a significant 129% growth year-over-year, while adjusted net income stood at $3.1 million, improving by $11.7 million. In Q4 2022 alone, net revenue hit $25.8 million, reflecting an 84% year-over-year increase. Decibel's market share rose to 6.8%, positioning it as the second-largest licensed producer in Canada as of March 2023. The company also made its first branded product sale to Israel as part of international expansion efforts. Despite these successes, the gross margin decreased to 43% in Q4 2022 from 52% in the prior quarter, influenced by inventory write-offs.

Decibel Cannabis Company (DBCCF) announced preliminary unaudited Q4 2022 results, showcasing record net revenue between $25.25 million and $26.25 million, a 38% increase from Q3 2022. Adjusted EBITDA also hit a record of $6.25 million to $7.25 million, reflecting a 47% growth. The company targets over 35% revenue growth for 2023 while maintaining a debt ratio of less than 3.0 times adjusted EBITDA. Decibel aims to solidify its position as Canada’s third largest licensed producer and plans to expand internationally through unique product offerings and enhanced market presence.

Decibel Cannabis Company Inc. (DBCCF) announced record national market share of 6.7% for December 2022, making it the third-largest licensed producer in Canada. The company achieved a remarkable 77% growth in market share throughout 2022, driven by significant gains in vape and pre-roll sales, ranking #1 with 17.7% and 11.8% market shares, respectively. Decibel will launch 11 new products in January 2023, further expanding its reach in the cannabis market.

Decibel Cannabis Company announced the results of its annual general meeting on December 9, 2022. Shareholders approved all measures, electing five directors including Shawn Dym as the new Chairman. The company achieved a remarkable 39% revenue growth in the first three quarters of 2022, and increased market share from 3.3% to 5.9%, ranking it as the fifth largest LP in Canada. However, Decibel noted that its share price hasn’t reflected its operational success, attributing this to broader market challenges in the cannabis sector. The new board aims to enhance shareholder value.

Decibel Cannabis Company has announced its first international shipment of Qwest dried flower to Breath of Life International for the Israeli market, marking a significant milestone in its global expansion. The supply agreement is valued at $4.8 million, and the first shipment features four strains. A second shipment is anticipated in late Q4 2022 or early Q1 2023 due to high pre-sales, including new cultivars. Decibel aims to leverage its established reputation in Canada to capture premium cannabis demand globally.

Decibel Cannabis Company reported strong Q3 2022 results, achieving a record national market share of 5.3% in October, positioning it as the 6th largest LP in Canada. Q3 net revenue reached $18.3 million, reflecting a 37% increase year-over-year but a slight 1% sequential decline.

Record gross margin improved to 52%, while adjusted EBITDA was $4.3 million, showing 32% growth from Q2. Notably, adjusted net income increased to $2.9 million, marking the second consecutive quarter of profitability. The company continues to focus on product innovation and operational efficiencies.

Decibel Cannabis Company (TSX-V: DB, OTCQB: DBCCF) has secured a $4.8 million supply agreement with Breath of Life International Ltd. to launch its Qwest brand in Israel. The first shipment is scheduled for Q4 2022. This marks Decibel's entry into international markets, enhancing the Qwest brand's global presence. The partnership leverages Breath of Life's established distribution channels in Israel, aligning with Decibel's reputation for premium cannabis products. CEO Paul Wilson highlighted ongoing strong performance in revenue and market share.

Decibel Cannabis Company has announced the postponement of its annual general meeting originally set for September 1, 2022, to improve shareholder participation. Currently, nearly one-third of shareholders have submitted proxies, with an unusual amount of withheld votes compared to previous meetings. The board believes delaying the meeting will foster better governance and allow for addressing any shareholder concerns. A new meeting date will be announced in the future.