1933 Industries Announces Fourth Quarter and 2024 Year-End Financial Results with Record Revenues of $19.3 Million
1933 Industries reported record revenues of $19.3 million for fiscal year 2024, marking a 15% increase year-over-year. The company significantly improved its financial performance with:
- Gross profit of $2.9 million, compared to a loss of $1.4 million in 2023
- Increased gross margin by 14%
- Reduced net loss to $0.6 million from $14.6 million in 2023
The Nevada-focused cannabis cultivator, through its 91%-owned subsidiary Alternative Medicine Association (AMA), has established itself as a top-selling cannabis brand in Nevada. The company's improved performance stems from operational efficiency, optimized cultivation, and fair market valuation of biological assets. During the period, the company discontinued its Canna Hemp CBD subsidiary due to declining market conditions.
1933 Industries ha riportato entrate record di 19,3 milioni di dollari per l'anno fiscale 2024, segnando un aumento del 15% rispetto all'anno precedente. L'azienda ha notevolmente migliorato le sue performance finanziarie con:
- Un profitto lordo di 2,9 milioni di dollari, rispetto a una perdita di 1,4 milioni di dollari nel 2023
- Aumento del margine lordo del 14%
- Riduzione della perdita netta a 0,6 milioni di dollari da 14,6 milioni di dollari nel 2023
Il coltivatore di cannabis focalizzato nel Nevada, attraverso la sua controllata al 91% Alternative Medicine Association (AMA), si è affermato come un marchio di cannabis leader nelle vendite in Nevada. Le performance migliorate dell'azienda derivano dall'efficienza operativa, dalla coltivazione ottimizzata e dalla giusta valutazione di mercato degli attivi biologici. Durante il periodo, l'azienda ha dismesso la sua controllata Canna Hemp CBD a causa delle condizioni di mercato in declino.
1933 Industries reportó ingresos récord de 19.3 millones de dólares para el año fiscal 2024, marcando un aumento del 15% en comparación con el año anterior. La compañía mejoró significativamente su rendimiento financiero con:
- Una ganancia bruta de 2.9 millones de dólares, en comparación con una pérdida de 1.4 millones de dólares en 2023
- Aumento del margen bruto del 14%
- Reducción de la pérdida neta a 0.6 millones de dólares desde 14.6 millones de dólares en 2023
El cultivador de cannabis enfocado en Nevada, a través de su subsidiaria de propiedad al 91% Alternative Medicine Association (AMA), se ha establecido como una marca de cannabis líder en ventas en Nevada. El rendimiento mejorado de la compañía se debe a la eficiencia operativa, la optimización del cultivo y la valoración justa de mercado de los activos biológicos. Durante el período, la compañía descontinuó su subsidiaria Canna Hemp CBD debido a las condiciones del mercado en declive.
1933 Industries는 2024 회계 연도에 1,930만 달러의 기록적인 수익을 보고하며, 전년 대비 15% 증가했다고 발표했습니다. 회사는 다음과 같은 방식으로 재무 성과를 크게 개선했습니다:
- 2023년 140만 달러의 손실에 비해 290만 달러의 총 이익
- 총 마진 14% 증가
- 2023년 1,460만 달러에서 60만 달러로 순손실 감소
네바다에 중점을 둔 대마초 재배업체는 91% 소유의 자회사인 Alternative Medicine Association (AMA)을 통해 네바다에서 가장 많이 팔리는 대마초 브랜드로 자리 잡았습니다. 회사의 개선된 성과는 운영 효율성, 최적화된 재배 및 생물 자산의 공정한 시장 가치 평가에서 비롯됩니다. 이 기간 동안 회사는 시장 상황 악화로 인해 Canna Hemp CBD 자회사를 중단했습니다.
1933 Industries a signalé des revenus records de 19,3 millions de dollars pour l'exercice fiscal 2024, marquant une augmentation de 15 % par rapport à l'année précédente. L'entreprise a considérablement amélioré ses performances financières avec :
- Un bénéfice brut de 2,9 millions de dollars, contre une perte de 1,4 million de dollars en 2023
- Une augmentation de la marge brute de 14 %
- Une réduction de la perte nette à 0,6 million de dollars contre 14,6 millions de dollars en 2023
Le cultivateur de cannabis axé sur le Nevada, à travers sa filiale Alternative Medicine Association (AMA) dont il détient 91 %, s'est établi comme une marque de cannabis parmi les meilleures ventes au Nevada. L'amélioration des performances de l'entreprise découle de l'efficacité opérationnelle, de la culture optimisée et de l'évaluation juste des actifs biologiques sur le marché. Pendant cette période, l'entreprise a discontinué sa filiale Canna Hemp CBD en raison de la détérioration des conditions du marché.
1933 Industries berichtete von Rekordumsätzen in Höhe von 19,3 Millionen Dollar für das Geschäftsjahr 2024, was einem Anstieg von 15 % im Vergleich zum Vorjahr entspricht. Das Unternehmen verbesserte seine finanzielle Leistung erheblich durch:
- Bruttogewinn von 2,9 Millionen Dollar, im Vergleich zu einem Verlust von 1,4 Millionen Dollar im Jahr 2023
- Erhöhung der Bruttomarge um 14 %
- Reduzierung des Nettoverlusts auf 0,6 Millionen Dollar von 14,6 Millionen Dollar im Jahr 2023
Der auf Nevada fokussierte Cannabiszüchter hat sich über seine zu 91 % im Besitz befindliche Tochtergesellschaft Alternative Medicine Association (AMA) als führende Cannabismarke in Nevada etabliert. Die verbesserte Leistung des Unternehmens resultiert aus betrieblicher Effizienz, optimierter Kultivierung und fairer Marktbewertung biologischer Vermögenswerte. Während des Zeitraums stellte das Unternehmen seine Tochtergesellschaft Canna Hemp CBD aufgrund rückläufiger Marktbedingungen ein.
- Record revenue of $19.3M (+15% YoY)
- Gross profit improved to $2.9M from -$1.4M loss
- Net loss reduced by 96% to $0.6M
- Gross margin increased to 15% from -8%
- Recognized as top-selling cannabis brand in Nevada
- Still operating at a net loss ($0.6M)
- Discontinued CBD business unit due to declining market
- Production costs still impacting margins
VANCOUVER, BC / ACCESS Newswire / February 25, 2025 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis cultivator and producer, is pleased to announce its fourth quarter ("Q4 2024") and audited annual financial results for the years ended July 31, 2024 and 2023 ("Fiscal 2024"). All amounts expressed are in Canadian dollars.
The Company owns
Highlights
Delivered record revenues of
$19.3 million for 2024, a15% increase year-over-yearRecorded gross profit of
$2.9 million compared to a gross loss of$1.4 million in 2023Increased gross margin by
14% Reduced net loss to
$0.6 million from a net loss of$14.6 million in the prior yearRecognized as a top selling cannabis brand in Nevada1
Recipient of the 2024 LeafLink List Awards for Top Selling Brand in Nevada
1https://www.headset.io/brands/alternative-medicine-association-ama
Fiscal 2024 and Fiscal 2023 Consolidated Operating Financials
Revenue Increase
During Fiscal 2024, the Company generated revenue of
$19,350,916 compared to$16,881,564 in the prior year comparable period, a15% increase from Fiscal 2023. Note: Income from discontinued operations is not included.
Gross Profit and Net Loss Improvements
Gross profit increased to
$2,941,963 during Fiscal 2024, compared to a loss of$1,366,753 in Fiscal 2023.In Fiscal 2024 net loss was
$624,085 and comprehensive loss was$1,065,679 , compared to Fiscal 2023 net loss of$14,587,304 and comprehensive loss of$13,495,843 in the prior year.
Gross Margin Increase
Gross margin excluding fair value adjustments, calculated as gross profit excluding fair value adjustments divided by revenue was
14% in Fiscal 2024 and negative margin of1% in Fiscal 2023, indicating slightly reduced production costs against revenues in the year. Gross margin calculated as gross profit divided by revenue was15% in Fiscal 2024 and a negative margin of8% in Fiscal 2023.
Management Commentary
During Fiscal 2024, the Company posted record revenues of
During the reporting period, the Company discontinued its Canna Hemp™ CBD consumer packaged goods subsidiary due to the declining CBD market, which contributed to the unfeasibility of sustaining operations.
Financial statements are prepared in accordance with International Financial Reporting Standards. Detailed information regarding the Company's financial results as well as management's discussion and analysis can be found at https://sedar.com/ and https://1933industries.com/investors/financial-information
The Company will release its first quarter 2025 financial report within 5 business days of this report.
About 1933 Industries Inc.
1933 Industries is a Nevada-based licensed producer, focused on the cultivation and extraction of a large portfolio of cannabis consumer products in a variety of formats under its flagship brands, Alternative Medicine Association (AMA) and Level X. Its product offerings are cultivated at the Company's 68,000 sq. ft. indoor facility and marketed directly to retail dispensaries. AMA branded flower, infused pre-rolls, and in-house boutique concentrates consistently rank as the top products sold in Nevada. For more information, please visit www.1933industries.com
For further information please contact:
Alexia Helgason, VP, Investor Relations
604-728-4407
alexia@1933industries.com
Brian Farrell, Chairman and CEO
brian@1933industries.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: 1933 Industries Inc.
View the original press release on ACCESS Newswire
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