Business
CanadaBis Capital Reports Positive Net Income and Strong Financial Performance for Fiscal Year End 2024
CanadaBis Capital Reports Positive Net Income and Strong Financial Performance for Fiscal Year En...
About this update from Canadabis Capital, Inc.
[{"type":"text","content":"\n\n\n\n CanadaBis Capital Reports Positive Net Income and Strong Financial Performance for Fiscal Year End 2024\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n\n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Nov. 28, 2024\n \n\n /CNW/ - CanadaBis Capital (CANB.V) a leader in the Canadian cannabis industry, is proud to announce its financial results for the year ending\n \n July 31, 2024\n \n . The company is pleased to report a positive net income of\n \n\n $600,285\n \n\n , marking a significant achievement as CanadaBis continues to grow and solidify its position in the market.\n \n\n\n Key Financial Highlights for the Fiscal Year Ended\n \n July 31, 2024\n \n :\n \n\n\n\n\n Net Income\n \n : CanadaBis Capital achieved a positive net income of\n \n\n $600,285\n \n\n , reflecting the company's strong performance despite higher costs associated with new product launches and operational expansions.\n \n\n\n Record Sales:\n \n The Company sold a of over\n \n 1,800,000\n \n units of combined concentrate and dry flower for the year ended\n \n July 31, 2024\n \n , a 6% increase compared to the 1,700,000 units sold over the comparative period.\n \n\n\n Revenue Growth\n \n : The company experienced solid revenue growth, driven by the successful introduction of new high-potency THC products under the Dab Bods brand and the continued popularity of its core product offerings.\n \n\n\n Cost of Goods Sold (COGS)\n \n : While COGS increased due to higher production volumes and expanded product lines, CanadaBis was able to manage these costs effectively through strategic purchasing initiatives and operational efficiencies.\n \n\n\n\n\n\n\n\n\n\n\n Strategic Growth and Operational Efficiencies\n \n\n\n CanadaBis Capital has continued to focus on both product innovation and operational excellence. The successful expansion of the\n \n Dab Bods\n \n brand, with the launch of high-potency THC products from\n \n April 2023\n \n to\n \n July 2024\n \n , has contributed significantly to the company's revenue growth. These new products, which include premium...