04/24/2024
Adastra Holdings, a leading cannabis processor and producer of two top Canadian concentrates brands, with a focus on product innovation and commercialization for adult-use and medical markets, is pleased to report financial results for the fourth quarter of 2023 and the year ended December 31, 2023.
“During 2023, Adastra experienced significant sales growth of $37.7 million, representing a 108% increase compared to the same period last year, and marking our third consecutive year of achieving record revenue. The increased demand for our in-house brand, Endgame Extracts, has been a key driver behind this success, evident in our continued success with numerous best-selling SKUs in B.C, Alberta, and Ontario according to Headset. None of this would have been possible without our dedicated team. They have continuously worked hard to increase the production throughput of the Company’s facility in Langley to keep up with the growing demand,” said Lachlan McLeod, CPA, Interim CEO of Adastra. “Looking ahead to 2024, we expect to continue this momentum and have already set new records, including receiving a record single purchase order of $1 million in March 2024. Moreover, we’re committed to a renewed focus on cost-saving measures aimed at ensuring profitability. As we continue to grow, we aim to further strengthen our financial position and drive sustainable success.”
Read the full press release here: https://adastraholdings.ca/adastra-holdings-reports-fy2023-results-marking-third-consecutive-year-of-record-revenue/
