Business
Decibel Announces Material Positive Adjustments to Q2 2022 Net Revenue and Adjusted EBITDA Growth
Decibel Announces Material Positive Adjustments to Q2 2022 Net Revenue and Adjusted EBITD...
About this update from Decibel Cannabis Company Inc
[{"type":"text","content":"\n \n \n \n Decibel Announces Material Positive Adjustments to Q2 2022 Net Revenue and Adjusted EBITDA Growth\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.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n July 13, 2022\n \n \n /CNW/ - Decibel Cannabis Company Inc. (the \"Company\" or \"Decibel\") (TSX-V: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to provide a preliminary outlook for net revenue and Adjusted EBITDA\n \n 1\n \n for the second quarter, ending\n \n June 31, 2022\n \n .\n \n \n \n \n \n \n \n \n \n \"In the second quarter Decibel continued to match and exceed revenue projections, and significantly exceed EBITDA projections. Performance was driven by exceptional continued growth in demand for our popular brands and new products. This, coupled with prioritizing certain key capital initiatives, generated gross margin and EBITDA significantly beyond our forecast,\" said\n \n Paul Wilson\n \n , CEO of Decibel. \"We expect revenue in the quarter to be in the\n \n $18.5\n \n -\n \n $19.5\n \n range and corresponding Adjusted EBITDA in the\n \n $3.0\n \n -\n \n $3.5M\n \n range. Margins and profitability expanded with our automation, infrastructure and cost engineering improvements coming online earlier than planned. These improvements have been in the pipeline and impacted the end of Q2, with the full impact unfolding in the third and fourth quarter. The impact of these projects appears to be well beyond our projections for gross margin expansion.\"\n \n \n \n Q2 2022 Outlook\n \n \n \n \n Demonstrated positive cash flow from operations in first two quarters of 2022\n \n \n...