- The Good Shroom Co. (TSXV:MUSH), an emerging micro-cap cannabis stock, is announcing its first fully profitable fiscal year marked by year-over-year (YoY) growth across key metrics
- Net profit for fiscal 2024 came in at C$40,603, up from $(452,140) YoY
- The Good Shroom Co. is a cannabis company active in Quebec and pursuing national expansion
- The Good Shroom Co. stock has given back 41.67 per cent YoY and over 60 per cent since inception in 2021
The Good Shroom Co. (TSXV:MUSH), an emerging micro-cap cannabis stock, is announcing its first fully profitable fiscal year marked by year-over-year (YoY) growth across key metrics.
Here are the highlights from fiscal 2024 ended July 31:
- Net revenue increased by 23 per cent YoY from C$3.16 million to C$3.89 million.
- Net profit came in at C$40,603, up from $(452,140) YoY.
- Gross margin grew from 16.4 per cent to 26.4 per cent thanks to cost efficiencies and higher-margin product diversification.
- EBITDA reached C$116,826 driven by cost management and operational improvements.
- Long-term debt stands at C$0.
Management plans to continue fostering shareholder value in 2025 by optimizing its presence in Quebec, including new product launches planned for early Q3, while pursuing national growth through innovations such as Good Shroom Co.’s THC-infused DYP pouches, which sold out in 24 hours in Alberta and will launch in Ontario in Q2 2025.
Leadership insights
“Achieving profitability in an industry as challenging as ours is an accomplishment we take pride in,” Eric Ronsse, chief executive officer of The Good Shroom Co., said in a statement. “While this milestone reflects the strength of our asset-light business model and financial discipline, our focus remains firmly on the future – continuing to innovate, expand and deliver lasting value.”
About The Good Shroom Co.
The Good Shroom Co. is a cannabis company active in Quebec and pursuing national expansion. The company also produces a line of non-cannabis wellness beverages.
The Good Shroom Co. stock (TSXV:MUSH) opened unchanged trading at C$0.10 per share. The stock has given back 41.67 per cent YoY and over 60 per cent since inception in 2021.
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(Top image of The Good Shroom Co. logo: The Good Shroom Co.)