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Kiaro Holdings Corp. reported record revenues of $26.9 million for FY 2022, reflecting a 58% increase from the previous year. The company successfully integrated two acquisitions, expanding its retail footprint to 17 stores and capturing a 45% growth in retail revenue. Wholesale revenue surged by 62%, and retail margins remained strong at 37%. Despite these achievements, adjusted EBITDA worsened to -1.5 million due to pandemic-related restrictions and acquisition costs. The company anticipates continued double-digit growth into FY 2023.
Kiaro Holdings Corp. (OTC: KIARF) has announced that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the USA. This DTC eligibility is expected to enhance liquidity and simplify trading processes, potentially attracting more American investors. Additionally, CEO Daniel Petrov is taking a medical leave, and COO Eleanor Lynch will serve as interim CEO. Kiaro operates in Canada, the USA, and Australia, focusing on cannabis retail and distribution.
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