AmeriCann FY 2022 Revenue Grows 44% To $2.93M, What About Net Loss?

AmeriCann Inc. ACAN released financial results for its fiscal year and quarter ending September 2022, revealing revenue of $811,774 in Q4 2022, a 10% increase compared to $735,076 in Q4 2021.

Q4 Financial Highlights

• Net income increased by 307% to $172,810.

• Adjusted operating EBITDA grew by $82,025 sequentially year-over-year to $469,476.

• Adjusted operating EBITDA margins were 57.8% for the quarter.

• Quarterly gross margins were 98.5%.

• Seven consecutive quarters of positive Adjusted EBITDA.

Fiscal Year 2022 Financial Highlights

• Revenue increased 44% year-over-year to $2.93 million.

• Adjusted EBITDA grew by $903,553 year-over-year to $1.47 million, a 160% increase.

• Annual gross margins were 98.5%.

• Adjusted operating EBITDA margins were 50.1% for the year.

• Net loss was $173,244 compared to net loss of $862,893 in the prior year.

“Our focus on cost efficiency has produced some of the strongest adjusted operating EBITDA margins in the industry,” stated CFO Ben Barton. “We look forward to investing the cash flow we are generating to further expand operations at the Massachusetts Cannabis Center and to produce even better financial results for shareholders.

AmeriCann is in the final design phase of the expansion of its MCC development in Freetown, Massachusetts. The company has secured provisional cultivation and manufacturing licenses for the MCC. The next phase of the Massachusetts Cannabis Center calls for up to 60,000 square feet of extraction, manufacturing and distribution infrastructure and approximately 160,000 square feet of additional cannabis cultivation infrastructure.

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Photo by Jeff W on Unsplash

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