- Decibel (DB) has issued preliminary unaudited Q4 2022 results along with its 2023 outlook
- Q4 2022 net revenue came in at a record $25.25 – $26.25 million, up 38 per cent from Q3 2022
- The company is focused on consumer loyalty and organic category expansion through a pipeline of new products, both in Canada and abroad
- Decibel offers cannabis products and retail experiences through its Qwest, Qwest Reserve, Blendcraft, General Admission and Prairie Records: The Cannabis Shop brands
- Decibel Cannabis Company (DB) is up by 17.24 per cent, trading at $0.17 per share
Decibel (DB) has issued preliminary unaudited Q4 2022 results along with its 2023 outlook.
Q4 2022 net revenue came in at a record $25.25 – $26.25 million, up 38 per cent from Q3 2022.
Adjusted EBITDA for the quarter was also a record $6.25 – $7.25 million, up 47 per cent from Q3 2022.
The company achieved less than 3x debt-to-trailing twelve-month-adjusted EBITDA for the quarter.
2023 outlook
Decibel has become the third-largest LP in Canada by market share, securing the fastest growth rate among large LPs in 2022 at 77 per cent.
A series of investment opportunities by way of automation and supply chain optimization led to record-level gross margin in the second half of 2022.
The company remains focused on consumer loyalty and organic category expansion through a pipeline of new products, both in Canada and abroad.
It is targeting 2023 YoY net revenue growth of over 35 per cent, supported by improved operating cash conversion through streamlining of operations and a continued transition towards automation.
Decibel is committed to delivering the highest-quality cannabis products and retail experiences. Its brands include Qwest, Qwest Reserve, Blendcraft, General Admission and Prairie Records: The Cannabis Shop.
Decibel Cannabis Company (DB) is up by 17.24 per cent, trading at $0.17 per share as of 1:56 pm EST.