Melodiol Delivers Another Record Quarter with ~$7.5M in Revenue Generated During Q3 FY/CY23, Up 265% on the PCP

Melodiol Global Health Limited (ASX:ME1, FRA:1X8) (‘Melodiol’ or ‘the Company’) is pleased to advise that it has achieved another record quarter of growth, delivering ~$7,497,891 in unaudited net revenue for the quarter ended 30 September 2023 (‘Q3 FY23’).

Highlights:

Circa $7.5m in unaudited revenue achieved across the Melodiol Group of companies in Q3 FY23 – a 265% increase on the PCP (Q3 FY22: $2.05m), and a 58% rise on last quarter (Q2 FY23: $4.74m)
Q3 FY23 revenue growth takes total FY23 unaudited net revenue to date to $14.54m
Strong growth underpinned by contributions from wholly-owned subsidiaries, including $1.85m in revenue from Mernova Medicinal Inc.
Health House International also delivered unaudited revenue of $4.851m, which included $2.99m in net revenue from the division’s Australian operations
Health House International’s Australian operations also generated an unaudited net profit of $312,548 during Q3 FY23 - +10% profit margin reflects well-established operating procedures on COGS (cost of goods sold) and a strong sales network across several leading Australian pharmacies
Company remains focused on its stated strategy of delivering high revenue growth, while maintaining a stringent control on costs to reach profitability

The Q3 FY23 result represents a 265% increase on the previous corresponding period (‘PCP’) (Q3 FY22: $2.05m), and a 58% rise on last quarter net revenue (Q2 FY23: $4.74m).

Recent revenue growth also takes total unaudited net revenue for FY23 to date to $14.54m, highlighting Melodiol’s ability to streamline operations and focus on high growth revenue generating opportunities in key international markets.

Chart: Unaudited revenue growth during FY23

Growth has been underpinned by the Company’s wholly-owned Canadian subsidiary, Mernova Medicinal Inc. (‘Mernova’), which generated $1.85m in revenue during Q3 FY23 (refer ASX announcement: 9 October 2023). Mernova’s revenue growth during the period marked a 20% increase on last quarter (Q2 FY2023 sales: A$1.547m) and a 104% rise on the PCP (Q3 FY22: A$907,042).

Further, 100%-owned subsidiary, Health House International (‘HHI’ or ‘HHI International’) also generated strong unaudited revenue of $4.871m, which included $2.99m in net revenue from the division’s Australian operations.

Pleasingly, adjusted for Cost of Goods Sold (COGS) and operating expenses, HHI Australia was also profitable with quarterly net profit before tax of $312,548, representing a net-profit-to-sales margin of 10.4% (refer ASX announcement: 16 October 2023).

During Q4 FY23, the Company remains increasingly focused on its stated strategy of maintaining high revenue growth across the group, with an emphasis on cost management to achieve a cash-flow breakeven position.

Management commentary:

CEO and Managing Director, Mr William Lay said: “We are very pleased to report these unaudited results for the Melodiol Group of companies, which has highlighted a record quarter of growth. Pleasingly, results are underpinned by very strong growth through wholly-owned subsdiary, Health House International which demonstrates the Company’s strategic priority to generate growth through strategic M&A and the acquisition of HHI marks successful execution in that regard.

“As we enter Q4, the Company remains focused on continuing its growth trajectory, while maintaining stringent on costs. We look forward to providing additional updates in the coming weeks.”

Click here for the full ASX Release

This article includes content from Melodial Global Health, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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ME1:AU

Trulieve Announces January 2025 Event Participation

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced planned event participation in January.

27 ^th Annual Needham Growth Conference, January 17, 2025 : Vice President of Investor Relations Christine Hersey will participate in a presentation and investor meetings.

Information about our events, links to events where available, and slide presentations can be found at: https://investors.trulieve.com/events

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.

Facebook: @Trulieve
Instagram: @Trulieve _
X: @Trulieve

Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com

View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-announces-january-2025-event-participation-302346620.html

SOURCE Trulieve Cannabis Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/09/c9006.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Trulieve Announces January 2025 Event Participation

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced planned event participation in January.

27 ^th Annual Needham Growth Conference, January 17, 2025 : Vice President of Investor Relations Christine Hersey will participate in a presentation and investor meetings.

Information about our events, links to events where available, and slide presentations can be found at: https://investors.trulieve.com/events

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.

Facebook: @Trulieve
Instagram: @Trulieve _
X: @Trulieve

Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com

View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-announces-january-2025-event-participation-302346620.html

SOURCE Trulieve Cannabis Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/09/c9006.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

10 Biggest Cannabis Stocks in the US and Canada

2024 saw the cannabis industry grappling with persistent challenges, mirroring those of the preceding two years. The absence of meaningful regulatory reform in both the US and Canada continues to stifle market growth

There was some positive momentum in the US as new markets entered the industry and the US Drug Enforcement Administration moved to reschedule cannabis from Schedule I to Schedule III; however, subsequent roadblocks suggest the process could take longer than industry hopefuls originally anticipated.

Cannabis companies in the sector continue to move forward and develop their offerings, and with potential catalysts ahead some investors are interested in getting involved. Looking at the key players is often a good place to get started, so this list of US and Canadian cannabis stocks covers the companies with the largest presence in two major cannabis ETFs.

This list of the biggest publicly traded cannabis companies was put together based on the top-weighted cannabis stocks included in the AdvisorShares Pure US Cannabis ETF (ARCA:MSOS) and the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) as of December 23, 2024. Share price information for the companies was accurate as of that time.

Keep reading...Show less

Melodiol Delivers Another Record Quarter with ~$7.5M in Revenue Generated During Q3 FY/CY23, Up 265% on the PCP

US cannabis rescheduling in limbo as new year begins

Cannabis banking reform stalls again in the US

Investor takeaway

US cannabis market

US-focused cannabis fund

1. Green Thumb Industries (CSE:GTII,OTCQX:GTBIF)

2. Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF)

3. Curaleaf Holdings (TSX:CURA,OTCQX:CURLF)

4. Verano Holdings (NEO:VRNO,OTCQX:VRNOF)

5. Cresco Labs (CSE:CL,OTCQX:CRLBF)

Canadian cannabis market

Canada-based cannabis fund

1. Innovative Industrial Properties (NYSE:IIPR)

2. Jazz Pharmaceuticals (NASDAQ:JAZZ)

3. Cronos Group (NASDAQ:CRON,TSX:CRON)

4. SNDL (NASDAQ:SNDL)

5. Canopy Growth (NASDAQ:CGC,TSX:WEED)

FAQs for investing in cannabis

Are cannabis stocks worth investing in?

Are cannabis stocks considered a high- or low-risk investment?

Why do people buy cannabis stocks?

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