From GlobeNewswire: 2024-08-01 21:53:00

LEEF Brands, Inc. announced financial results for Q2 2024, with net sales of $7.9M and $15.8M for the three and six months ended June 30, 2024. Gross profit was $2.7M and $5.9M, showing a 34.0% and 37.3% gross margin for the respective periods. Adjusted EBITDA was $437K and $2.2M for the same periods.

CEO Micah Anderson expressed pride in achieving $7.9 million in sales for Q2 and $15.8 million year-to-date. LEEF increased YOY unit sales by 81% despite a decrease in average price per gram. CFO Kevin Wilson highlighted operational efficiency and positive cash flow for three consecutive quarters. LEEF remains focused on customer service and quality products.

Investors can access financial results and analyses on LEEF’s investor relations website. Unaudited Q2 2024 financial metrics include a net loss of $3,939,204, depreciation and amortization of $427,494, and interest expenses of $1,658,395. Adjusted EBITDA was $437,138 for the quarter, showcasing profitability in core business operations.

LEEF Brands, Inc. is a California-based cannabis company with a comprehensive supply chain and cutting-edge manufacturing processes. With a dynamic concentrate portfolio, LEEF powers major brands in California. CEO Micah Anderson and CFO Kevin Wilson are available for further information at [email protected]. Source: LEEF Brands, Inc. Contact: 707-703-4111.

This news release contains forward-looking statements regarding LEEF Brands, Inc.’s corporate strategy, financial results, and operational efficiency. While the company believes the expectations to be based on reasonable assumptions, actual results may differ. Investors are advised to review public filings on SEDAR+ for more information and updates on the company’s performance.



Read more at GlobeNewswire:: LEEF Brands Inc. Reports Second Quarter 2024 Financial