Avant Brands Inc
OTC:AVTBF

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Avant Brands Inc
OTC:AVTBF
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Price: 0.6 USD 4.4% Market Closed
Market Cap: 209.5m USD

Avant Brands Inc
Investor Relations

Avant Brands, Inc. engages in the development and operation of cannabis related products. The company is headquartered in Kelowna, British Columbia and currently employs 125 full-time employees. The company went IPO on 2013-07-18. The firm is a producer of handcrafted cannabis products. The firm's recreational brand portfolio includes BLK MKT, Tenzo, Cognbscente, Treehugger and Pristine Seeds, which are produced from cultivars, and sold in British Columbia, Ontario, Saskatchewan, Manitoba, Yukon and New Brunswick. Its medical cannabis brand, GreenTec, is distributed directly to qualified patients through its online portal and licensed partners. The firm has various licensed and operational production facilities across Canada, which produce its consumer brands sold across medical and recreational channels in Canada. Its subsidiaries include Alberta Craft Cannabis Inc., GreenTec Bio-Pharmaceuticals Inc., GreenTec Retail Ventures Inc., Grey Bruce Farms Incorporated, Spectre Labs Inc., Tumbleweed Farms Corp., Zenalytic Laboratories Ltd., and 1203648 B.C. Ltd.

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Last Earnings Call
Fiscal Period
Q1 2024
Call Date
Apr 16, 2024
AI Summary
Q1 2024

Record Quarter: Avant Brands reported record Q1 gross revenue of $8.9 million, beating its guidance of $8.2–$8.8 million.

Revenue Growth: Net revenue rose 15% year-over-year to a record $8.1 million.

Margin Strength: Gross margin reached $4.7 million at 58%, with particularly strong export margins of 74%.

Profitability: Adjusted EBITDA and cash flow from operations both hit a record $3.8 million; adjusted net income was $1.2 million.

Export Momentum: Avant signed 5 new export deals, totaling 12, with international sales offsetting domestic market headwinds.

Strategic Funding: The company announced a private placement to raise up to $3.89 million to support working capital needs.

Key Financials
Gross Revenue
$8.9 million
Net Revenue
$8.1 million
Gross Margin
$4.7 million
Gross Margin
58%
Canadian Recreational Margin
63%
Export Margin
74%
Cash Flow from Operations (before nonworking capital adjustments)
$3.8 million
Adjusted EBITDA
$3.8 million
Adjusted EBITDA Margin
47%
Adjusted Net Income
$1.2 million
Export Selling Price
$4.30 per gram
Private Placement Gross Proceeds
$3.89 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Norton Singhavon
Founder, CEO & Director
No Bio Available
Mr. Jeremy Christopher Wright C.M.A., CPA, CMA, CPA
Chief Financial Officer
No Bio Available
Mr. Chris Pearson
Director of Sales
No Bio Available
Mr. David Buckle
Senior Vice President of Cannabis Operations
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Kelowna
1632 Dickson Ave Suite 335
Contacts
+17787608338.0
avantbrands.ca