Highlights
Q1 FY2023 net revenue was flat compared to Q4 FY20221.
Company maintained #1 share of combined premium flower and pre-rolled joint ('PRJ') segment in Q1 FY20232.
Increased share of the combined mainstream flower and PRJ segment by 35 bps to 4.0% in Q1 FY2023.
International medical cannabis net revenue approximately doubled versus Q1 FY2022 driven primarily by strong sales in
Record BioSteel revenues in Q1 FY2023 increased 169% versus Q1 FY2022. Secured retail agreement with
Cost reduction program on track with operating expenses3 in Q1 FY2023 decreasing by 13% versus Q1 FY2022.
'Through advancements in our North American brand led strategy we delivered a record quarter from BioSteel and maintained #1 share in the premium flower and pre-rolled joint segment, while driving growth of our premium Doja and mainstream Tweed brands. As our
'The cost saving program announced earlier in the quarter combined with sound expense discipline contributed to a meaningful decline in operating expenses during the quarter. We expect cost savings to ramp in the second half of the year, enabling us to execute on our path to profitability even as we continue to invest in strategic growth initiatives including in BioSteel and our
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