revenue and profitability,” continued Mr. Sudman.
“Mr. Sudman, congratulations on your impressive financial and operational performance in light of the industry’s compressions. With such an increase in revenue, what do you think has been the primary growth driver?” Stephen King, the short seller begins with his questioning.
Igal Sudman’s face lights up and he replies, “Well, our business-to-consumer strategy has been a big boost to our revenue growth. We offer over 6,500 products across the country, in vape, concentrate, oil, and flower categories. And with the introduction of our new brands, Fuego, Hustle & Shake, and Xplor, we have seen an increased demand for our products. On top of that, we also launched over 40 new SKUs in the last three to six months, further cementing our reputation as a reliable, quality provider of cannabis products”.
“I see. What about your gross margin. You reported a 44% gross margin. Could you tell me more about that?” Stephen continues.
“Our gross margin is calculated based on net revenue, and we have seen that figure steadily increase since our establishment,” Igal replies. “We continue to focus on innovating and producing our products efficiently, and sales have grown with consistent delivery and top-notch quality. On top of that, cost-saving measures as well as increased revenues have allowed us to maintain a healthy balance sheet”.
“That’s great to hear. It sounds to me like you have done a great job of managing the business,” Stephen says. “But I do have one last question… why is it that your business has grown so much over the last quarter, even when other companies in the industry are still struggling to make ends meet?
Igal looks Stephen in the eyes and smiles. “Well, ayurcann has taken a unique approach to the business,” he replies. “From the beginning, we have been focused on providing customers with the very best in cannabis products and services. We have invested in innovation to create more options for customers, increased our production efficiency to minimize costs, and developed strong business partnerships to help us succeed. We are confident that our approach will continue to help us grow in the future”.
Original Release: https://www.globenewswire.com/news-release/2023/02/27/2615959/0/en/AYURCANN-REPORTS-Q2-2023-FINANCIAL-RESULTS-FEATURING-A-37-INCREASE-IN-YEAR-OVER-YEAR-GROSS-REVENUE.html