LEEF Brands Inc. reported strong financial results for Q2 2024 with revenue and profit increase.

From GlobeNewswire: 2024-11-12 20:18:00

LEEF Brands, Inc. reported financial results for Q2 2024, with net sales of $6.8M and $22.6M for the three and nine months ended September 30, 2024. Gross profit was $1.5M and $7.4M for the same periods, with a unit sales increase of 79% in the three months. The company’s gross margin was 22% and 33% for the respective periods.

CEO Micah Anderson highlighted progress on key initiatives and infrastructure upgrades, including the completion of Phase 1 construction at Salisbury Canyon Ranch. The 1,900-acre ranch with a 187-acre cultivation permit positions LEEF for planting in spring 2025. CFO Kevin Wilson emphasized the focus on long-term financial health and strategic growth, with investments in extraction technology and Bitcoin cryptocurrency integration.

Unaudited financial and operation metrics for Q2 2024 show a net loss of $(3,186,643), depreciation of $480,203, and interest expense of $357,511. Adjusted EBITDA was $(1,785,303) with adjustments for share-based compensation, changes in fair value, and non-recurring costs. Investors can access detailed financial results on the company’s investor relations website.

LEEF Brands Inc. is a California-based cannabis company known for vertical integration and sophisticated operations. With cutting-edge manufacturing processes and a dynamic product portfolio, LEEF powers large brands in California. For more information, visit their website. Forward-looking statements in the news release highlight the company’s corporate strategy, financial performance, and operational goals. Investors are urged to review public filings for more information.



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