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Delivra Health Brands Reports Continued Growth with Positive Adjusted EBITDA(1) and Improved Financial Results for FY2024

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Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) reported positive financial results for fiscal 2024, ending June 30, 2024. The company, positioned in the health and wellness sector, saw a 26% year-over-year net revenue growth to $12,378, driven by increased sales in the USA and Canada. Gross profit margin improved to 52% from 49% in the previous year. Adjusted EBITDA increased by 68% to $871K compared to fiscal 2023. The company's portfolio, featuring Dream Water® and LivRelief™ brands, focuses on relief from sleeplessness, chronic pain, and anxiety. CEO Gord Davey emphasized the company's consistent improvement over the past four years and anticipated continued revenue and profitability growth for fiscal 2025.

Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) ha riportato risultati finanziari positivi per l'esercizio 2024, concluso il 30 giugno 2024. L'azienda, operante nel settore della salute e del benessere, ha registrato una crescita del fatturato netto del 26% su base annua a $12,378, grazie all'aumento delle vendite negli Stati Uniti e in Canada. Il margine di profitto lordo è migliorato dal 49% al 52% rispetto all'anno precedente. EBITDA rettificato aumentato del 68% a $871K rispetto all'esercizio 2023. Il portafoglio dell'azienda, che include i marchi Dream Water® e LivRelief™, è focalizzato sul sollievo da insonnia, dolore cronico e ansia. Il CEO Gord Davey ha sottolineato il continuo miglioramento dell'azienda negli ultimi quattro anni e ha previsto una crescita continua dei ricavi e della redditività per l'esercizio 2025.

Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) informó sobre resultados financieros positivos para el año fiscal 2024, que finalizó el 30 de junio de 2024. La empresa, posicionada en el sector de la salud y el bienestar, vio un crecimiento del 26% en los ingresos netos respecto al año anterior alcanzando $12,378, impulsado por un aumento en las ventas en EE. UU. y Canadá. El margen de utilidad bruta mejoró del 49% al 52% en comparación con el año anterior. El EBITDA ajustado aumentó un 68% hasta $871K en comparación con el año fiscal 2023. El portafolio de la compañía, que incluye las marcas Dream Water® y LivRelief™, se centra en el alivio del insomnio, el dolor crónico y la ansiedad. El CEO Gord Davey enfatizó la mejora constante de la empresa durante los últimos cuatro años y previó un crecimiento continuo en ingresos y rentabilidad para el año fiscal 2025.

Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF)는 2024 회계연도에 대한 긍정적인 재무 결과를 발표했습니다. 이 회계연도는 2024년 6월 30일 종료되었습니다. 헬스 및 웰빙 분야에 위치한 이 회사는 전년 대비 26%의 순매출 성장을 기록하며 $12,378에 달했습니다. 이는 미국과 캐나다에서의 판매 증가에 의해 이루어졌습니다. 총 이익률은 전년도 49%에서 52%로 개선되었습니다. 조정 EBITDA는 68% 증가하여 2023 회계연도와 비교할 때 $871K에 달했습니다. Dream Water®와 LivRelief™ 브랜드를 포함하는 회사의 포트폴리오는 불면증, 만성 통증 및 불안 완화에 집중하고 있습니다. CEO인 Gord Davey는 지난 4년 동안의 지속적인 개선을 강조하며 2025 회계연도에도 지속적인 수익 및 수익성 성장을 기대했습니다.

Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) a rapporté des résultats financiers positifs pour l'exercice 2024, prenant fin le 30 juin 2024. L'entreprise, positionnée dans le secteur de la santé et du bien-être, a connu une croissance du chiffre d'affaires net de 26% d'une année sur l'autre, atteignant 12,378 $, grâce à une augmentation des ventes aux États-Unis et au Canada. La marge bénéficiaire brute s'est améliorée à 52% contre 49% l'année précédente. L'EBITDA ajusté a augmenté de 68% pour atteindre 871K $ par rapport à l'exercice 2023. Le portefeuille de l'entreprise, comprenant les marques Dream Water® et LivRelief™, se concentre sur le soulagement de l'insomnie, de la douleur chronique et de l'anxiété. Le PDG Gord Davey a souligné l'amélioration constante de l'entreprise au cours des quatre dernières années et a prévu une croissance continue des revenus et de la rentabilité pour l'exercice 2025.

Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) berichtete über positive Finanzresultate für das Geschäftsjahr 2024, das am 30. Juni 2024 endete. Das Unternehmen, das im Gesundheits- und Wellnesssektor tätig ist, verzeichnete ein Umsatzwachstum von 26% im Vergleich zum Vorjahr auf $12,378, unterstützt durch steigende Verkaufszahlen in den USA und Kanada. Die Bruttogewinnmarge verbesserte sich auf 52% von 49% im Vorjahr. EBITDA bereinigt stieg um 68% auf $871K im Vergleich zum Geschäftsjahr 2023. Das Portfolio des Unternehmens umfasst die Marken Dream Water® und LivRelief™, die sich auf die Linderung von Schlaflosigkeit, chronischen Schmerzen und Angstzuständen konzentrieren. CEO Gord Davey betonte die kontinuierliche Verbesserung des Unternehmens in den letzten vier Jahren und erwartete weiterhin ein Wachstum von Umsatz und Rentabilität für das Geschäftsjahr 2025.

Positive
  • Net revenue increased by 26% year-over-year to $12,378
  • Gross profit margin improved to 52% from 49% in the previous year
  • Adjusted EBITDA grew by 68% to $871K compared to fiscal 2023
  • Positive net cash provided by operating activities of $756K
  • Net profit from continuing operations of $876K, compared to a loss in the previous year
Negative
  • Expenses including sales, marketing, general, and administrative costs increased by 23% to $5,774
  • Inventory write-down of $246K, although lower than the previous year

Delivra is a unique consumer packaged goods company strategically positioned in the health and wellness sector that provides high-quality brands to the global marketplace

Continued net revenue growth of 26% year over year despite challenging business environments

Increased gross profit margin of 52% in fiscal 2024 vs. 49% in fiscal 2023

Consistent improvement of adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA")(1) to $871K or 68% increase compared to fiscal 2023

Year over year improvement of net cash provided by operating activities

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2024) - Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) ("Delivra Health" or the "Company"), a consumer packaged goods company uniquely positioned in the health and wellness sector, is pleased to announce its financial and operating results for the three and 12 months ended June 30, 2024 ("fiscal 2024"). The Delivra Health portfolio features innovative brands Dream Water® and LivRelief™, which deliver relief from common health issues such as sleeplessness, chronic pain and anxiety.

Management Commentary

"Delivra Health Brands has consistently improved its market and financial position over the past four years. For the second straight year, we achieved positive Adjusted EBITDA and positive cash flow. These results demonstrate the attractiveness and scalability of the Company's brands to consumers, with growing opportunities year over year," said Gord Davey, President and CEO of Delivra Health. "Our fiscal 2025 outlook will focus on increased market position and revenue growth through channel development and ongoing innovation of our brands. Supported by a strong management team and continued investment in marketing and digital initiatives, we anticipate continued revenue and profitability growth in the coming year."

Financial Highlights

  • Net revenue: The Company reported total net revenue of $12,378 in fiscal 2024 compared to $9,791 in the twelve months ended June 30, 2023 ("fiscal 2023") from continued operations. This 26% increase in net revenue is mainly driven by higher net sales in the USA of $2,488 and in Canada of $99 as a result of increased customer purchase orders and consumer demand.
  • Gross profit and gross profit margin: The Company reported gross profit of $6,399 and a 52% gross profit margin in fiscal 2024 compared to $4,823 and a 49% gross profit margin in fiscal 2023. The increase in gross profit and gross profit margin was the result of increased sales volume and improved customer mix such as customers with lower rebates and sales fees and favorable logistical terms, bolstered by disciplined management of operational cost such as effective negotiation of price increases and management of third party warehousing costs.
  • Expenses including-sales, marketing, general, and administrative costs and excluding non-cash items: The Company reported expenses of $5,774 in fiscal 2024 compared to $4,704 in fiscal 2023, representing a $1,070 or 23% increase for the year. The increase was mainly driven by the implementation of new marketing campaigns and digital marketing strategies.
  • Adjusted EBITDA(1): The Company reported Adjusted EBITDA of $871 in fiscal 2024 compared to $517 in fiscal 2023, representing a $354 or 68% year over year improvement. This increase in Adjusted EBITDA resulted from management's focus on customer mix, gross profit margin improvement and efficient administrative and selling support functions.

Summary of Key Financial Results


 
For the year ended June 30 
($000's, except share and per share amounts) 
2024 
 
2023 
Continued operations: 

 
 

 
Net revenue$12,378 
$9,791 
Cost of sales 
5,733 
 
4,570 
Inventory write-down 
246 
 
398 
Gross profit 
6,399 
 
4,823 
Gross profit margin 
52% 
 
49% 
Expenses excluding non-cash expenses  
5,774 
 
4,704 
Depreciation and amortization and share-based compensation 
(1,335) 
(1,482)
Loss from operations before other (expense) income 
(710) 
(1,363)
Other (expense) income 
1,586 
 
1,179 
Net profit (loss) from continuing operations 
876 
 
(184)
Net cash provided (used) in operating activities 
756 
 
(1,088)

 

Expenses exluding non-cash items


 
For the year ended June 30 
($000's, except share and per share amounts) 2024 
 
2023 
General and administration$4,225 
$3,929 
Sales and marketing 1,549  775 
Total  5,774  4,704 

 

Adjusted EBITDA (non-IFRS measure)(1)


 
For the year ended June 30 
($000's, except share and per share amounts) 2024  2023 
Loss from operations$(710)
$(1,363)  
Inventory write-down 246  398 
Depreciation and amortization 1,309  1,330 
Share-based compensation 26  152 
Adjusted EBITDA(1)  871  517 

 

About Delivra Health Brands Inc.

Helping people take control of their health with alternative wellness solutions is what energizes the Delivra Health team! The Delivra Health portfolio features innovative brands like Dream Water® and LivRelief™, which deliver relief from common everyday issues like chronic pain, anxiety, and sleeplessness. Delivra Health products have allowed millions of customers to reclaim their mobility, energy, and in turn, quality of life. The websites of the Company's two subsidiaries are  Dream Water® and  LivReliefTM. For more information, please visit  www.delivrahealthbrands.com.

Non-IFRS Measures, Reconciliation and Discussion

This press release contains references to "Adjusted EBITDA" which is a non-International Financial Reporting Standards ("IFRS") financial measure. Adjusted EBITDA is a measure of the Company's loss from operations before interest, taxes, depreciation, and amortization and adjusted for share-based compensation, common shares issued for services, fair value effects of accounting for biological assets and inventories, asset impairment and write-downs, and other non-cash items, and is a non-IFRS measure.

This measure can be used to analyze and compare profitability among companies and industries, as it eliminates the effects of financing and capital expenditures. It is often used in valuation ratios and can be compared to enterprise value and revenue. This measure does not have any standardized meaning according to IFRS and, therefore, may not be comparable to similar measures presented by other companies.

There are no comparable IFRS financial measures presented in Delivra Health's financial statements. Reconciliations of the supplemental non-IFRS measure are presented in the Company's management discussion and analysis for fiscal 2024 dated October 7, 2024 (the "Fiscal 2024 MD&A"). This non-IFRS financial measure is presented because management has evaluated the financial results both including and excluding the adjusted items and believes that the non-IFRS financial measure presented provides additional perspective and insights when analyzing the core operating performance of the business. The Company believes that the supplemental measure provides information which is useful to shareholders and investors in understanding the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers.

The non-IFRS financial measure should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with the IFRS financial measures presented in the Company's financial statements. For more information, please see "Adjusted EBITDA (non-IFRS measure)" and "Non-IFRS Measures" in the Fiscal 2024 MD&A, which is available under the Company's SEDAR+ profile on www.sedarplus.ca.

Notes:

  1. This is a non-IFRS reporting measure. For a reconciliation of this measure to the nearest IFRS measure, see "Adjusted EBITDA (non-IFRS measure)" and "Non-IFRS Measures" in the Fiscal 2024 MD&A.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, among other things, statements with respect to the Company's products offering relief from chronic pain, anxiety, and sleeplessness, expectations regarding increase of the Company's revenues and profitability, the Company's growth objectives, increasing revenues and profitability, growth in new markets, and growth through channel development and ongoing innovation.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the cannabis markets where the Company operates; changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; employee relations and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution, and sale of cannabis and cannabis-related products in the markets where the Company operates. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form dated March 2, 2021, and under the heading "Risks and Uncertainties" in the Company's Fiscal 2024 MD&A filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.

Investor Relations:
Jack Tasse
Chief Financial Officer
IR@delivrahealth.com
1-877-915-7934

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225952

FAQ

What was Delivra Health Brands' (DHBUF) net revenue for fiscal 2024?

Delivra Health Brands reported a net revenue of $12,378 for fiscal 2024, representing a 26% increase compared to fiscal 2023.

How much did Delivra Health Brands' (DHBUF) Adjusted EBITDA improve in fiscal 2024?

Delivra Health Brands' Adjusted EBITDA improved by 68% to $871K in fiscal 2024 compared to $517K in fiscal 2023.

What was Delivra Health Brands' (DHBUF) gross profit margin for fiscal 2024?

Delivra Health Brands reported a gross profit margin of 52% for fiscal 2024, an improvement from 49% in fiscal 2023.

Did Delivra Health Brands (DHBUF) report a profit or loss for fiscal 2024?

Delivra Health Brands reported a net profit from continuing operations of $876K for fiscal 2024, compared to a loss in the previous year.

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