Business
Delivra Health Brands Reports Continued Growth with Positive Adjusted EBITDA(1) and Improved Financial Results for FY2024
Delivra is a unique consumer packaged goods company strategically positioned in the health and we...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"Delivra Health Brands Reports Continued Growth with Positive Adjusted EBITDA(1) and Improved Financial Results for FY2024Delivra is a unique consumer packaged goods company strategically positioned in the health and wellness sector that provides high-quality brands to the global marketplace Continued net revenue growth of 26% year over year despite challenging business environmentsIncreased gross profit margin of 52% in fiscal 2024 vs. 49% in fiscal 2023 Consistent improvement of adjusted earnings before interest, taxes, depreciation and amortization (\"Adjusted EBITDA\")(1) to $871K or 68% increase compared to fiscal 2023 Year over year improvement of net cash provided by operating activitiesVancouver, British Columbia--(Newsfile Corp. - October 8, 2024) - Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) (\"Delivra Health\" or the \"Company\"), a consumer packaged goods company uniquely positioned in the health and wellness sector, is pleased to announce its financial and operating results for the three and 12 months ended June 30, 2024 (\"fiscal 2024\"). The Delivra Health portfolio features innovative brands Dream Water® and LivRelief™, which deliver relief from common health issues such as sleeplessness, chronic pain and anxiety.Management Commentary\"Delivra Health Brands has consistently improved its market and financial position over the past four years. For the second straight year, we achieved positive Adjusted EBITDA and positive cash flow. These results demonstrate the attractiveness and scalability of the Company's brands to consumers, with growing opportunities year over year,\" said Gord Davey, President and CEO of Delivra Health. \"Our fiscal 2025 outlook will focus on increased market position and revenue growth through channel development and ongoing innovation of our brands. Supported by a strong management team and continued investment in marketing and digital initiatives, we anticipate continued revenue and profitability growth in the coming year.\"Financial Highlights Net revenue: The Company reported total net revenue of $12,378 in fiscal 2024 compared to $9,791 in the twelve months ended June 30, 2023 (\"fiscal 2023\") from continued operations. This 26% increase in net revenue is mainly driven by higher net sales in the USA of $2,488 and in Canada of $99 as a result of increased customer ...