AmeriCann Q1 FY23 Revenue Grows 13% YoY, What About Adjusted EBITDA?

AmeriCann Inc. ACAN released financial and operational results for its quarter ending December 2022, revealing revenue of $734,766, a 13% increase compared to $650,945 in the quarter ended December 2021.

Financial Highlights For The Quarter Ending December 2022

• Annual gross margins were 98.1%.

• Adjusted EBITDA for the quarter grew by $111,794 to $337,623, a 49.5% increase as compared to the same quarter the year prior.

• Net income of $22,745 compared to net loss of $533,028 in the quarter ended December 2021.

“AmeriCann’s focus on financial performance has produced excellent results, with four consecutive quarters of positive net income,” stated CEO Tim Keogh. “We look forward to building upon these results for the future by expanding operations at our Massachusetts Cannabis Center to produce even greater cash flow.”

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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