Ayurcann Slight Revenue Increase In Q3 Fiscal 2022 Of 7.69% YoY

Ayurcann Holdings Corp. AYURF AYUR (FSE:3ZQ0) Q3 fiscal 2022 revenue was CA$2.8 million ($2.19 million), compared to CA$2.6 million in Q3 2021.

Q3 Fiscal 2022 Highlights

• Gross margins of CA$580,000/

• The company reported a loss of CA$306,000, which was partially due to increased inventory in anticipation of new sales and products entering the market across Canada set to begin in July 2022.

• The company has started to manufacture and ship new products across the country including bestselling tinctures under the Joints brand. Joint tinctures come in 15ml, 30 ml and 60ml sizes offering consumers a high potency CBD product at value. Legacy market vapes under the Hustle & Shake. The gamer vape is highlighted with Bravo6 with specific indica and sativa SKUs. For those who are looking for Harmony, CBD focused or 1:1 offering can be found with the XPLOR brands.

• The company has an additional 12 new SKUS accepted by the various retail boards including vapes, tinctures, dablicators, flower and pre-rolls with a goal of beginning cross country shipping in July 2022.

Igal Sudman, CEO of Ayurcann, stated, "as we gain more traction in the market, grow our offerings, and establish ourselves as a major player in the industry, we have proven again that Ayurcann is able to maintain a growing business and expand its market share. "

Photo: Courtesy of Jeff W on Unsplash

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