Auxly Reports Q3 2021 Financial Results
TORONTO, Nov. 15, 2021 — Auxly Cannabis Group Inc. (TSX – XLY) (OTCQX: CBWTF) (“Auxly” or the “Company“), a leading consumer packaged goods company in the cannabis products market, today released its financial results for the three and nine months ended September 30, 2021. These filings and additional information regarding Auxly are available for review on SEDAR at www.sedar.com. All amounts are Canadian dollars except common shares (“Shares”) and per Share amounts.
Q3 2021 Highlights and Subsequent Events
- — Total net revenues of $24.5 million for the three months ended September 30, 2021 improved by approximately 95% year over year and 17% sequentially.
- — Adjusted EBITDA of negative $6.5 million, improved modestly over the same period in 2020, however, increased over the previous quarter Continued growth in national recreational cannabis sales, maintaining the #1 LP position in Cannabis 2.0 sales with 15.6% market share and securing the #6 LP position in total national recreational cannabis sales in the quarter, with continued growth in the month of October moving the Company into the #5 LP position with 7.3% share of market1.
- — Continued leadership in new product innovation with the launch of new and differentiated SKUs throughout the quarter, including the introduction of Back Forty 40s, and Kolab Project 132 Series Live Resin Black Cherry Punch Soft Chews, Canada’s first cannabis-infused live resin edible.
- — Strengthened its Board of Directors with the appointment of Murray McGowan, Chief Strategy and Development Officer for Imperial Brands.