Latest news with #ArasAzadian
Yahoo
24-04-2025
- Business
- Yahoo
Avicanna Inc (AVCNF) Q4 2024 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Revenue: $25.5 million, a 52% increase from the previous year. Gross Profit: $12.9 million, representing a 51% gross margin, up from 40% in 2023. Net Loss: Reduced to $1.4 million from $4.3 million in 2023. Adjusted EBITDA: Improved by 68% from 2023. MyMedi Platform Revenue: $21.7 million in gross revenue. Licensing and Service Revenue: $2.4 million, up from $530,000 in 2023. Operating Expenses: Increased by 17% over 2023, mainly due to MyMedi platform operations. Working Capital Deficit: Reduced from $3.9 million in 2023 to $1.6 million. Accounts Payable: Decreased by over $1 million, with all external debt paid down. Warning! GuruFocus has detected 2 Warning Sign with AVCNF. Release Date: April 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Avicanna Inc (AVCNF) reported record revenues of $25.5 million in 2024, marking a 52% growth from the previous year. The company's gross profit increased by 94% to $12.9 million, with gross margins rising to 51%, attributed to optimization efforts and increased licensing and service revenue. Avicanna Inc (AVCNF) achieved significant advancements in its pharmaceutical pipeline, including the first pharmaceutical approval with Trunerox in Colombia. The MyMedi platform generated $21.7 million in gross revenue, reflecting strong adoption and a central role in Avicanna's Canadian commercial strategy. The company has successfully expanded its international operations, completing transactions in 22 international markets and advancing its proprietary products like Trunerox and cosmetic topicals. Despite improvements, Avicanna Inc (AVCNF) reported an adjusted EBITDA loss of $1.4 million in 2024. Operating expenses increased by 17% over 2023, primarily due to the first full year of operating the MyMedi platform. The company faced a delay in its 2024 filings due to an internal jurisdictional licensing matter with its auditors. Avicanna Inc (AVCNF) continues to operate with a working capital deficit, although it has decreased from $3.9 million to $1.6 million. The launch of Trunerox in Central and South America is expected to take longer due to regulatory challenges, with a soft launch planned for early Q3 in Colombia. Q: Can you clarify the ownership status of David Nikzad and EI Ventures in Avicanna? A: David Nikzad and EI Ventures were investors in Avicanna a few years ago. They have since liquidated their entire position and currently hold no equity or warrants in Avicanna's capital structure. This matter should be addressed with EI Ventures and David Nikzad directly. - Aras Azadian, CEO Q: Do you anticipate Avicanna achieving profitability in 2025? A: Yes, we are confident about achieving profitability in 2025. We've made significant progress in revenue, margins, and gross profits. With expected marginal growth this year, we believe we can achieve profitability. Our focus is on scaling and growth. - Aras Azadian, CEO Q: What is the timeline for the launch of Trunerox in Central and South America? A: We are currently in production and expect to launch Trunerox in early Q3, starting in Colombia. We are also in discussions with other regulatory agencies to expand into additional South American markets. This year will serve as a soft launch to learn and establish proof of concept. - Aras Azadian, CEO Q: Can you provide details on your collaboration with Victoria Furton and PMI? A: We have initiated a collaboration with them in the medical affairs sector in Canada, conducting research and clinical collaborations. Their product, a CBD tablet, is available on the MyMedi platform. Further strategic initiatives will be disclosed as the year progresses. - Aras Azadian, CEO Q: What is your vision for Avicanna in the next five years? A: We see two potential paths: continuing to grow and internationalize independently, potentially becoming a multibillion-dollar company, or being acquired by a Fortune 100 company. We anticipate a meaningful exit opportunity for shareholders within the next 24 months. - Aras Azadian, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Globe and Mail
18-03-2025
- Business
- Globe and Mail
Avicanna To Hold Full Year 2024 Earnings Conference Call
TORONTO, March 18, 2025 (GLOBE NEWSWIRE) -- Avicanna Inc. (' Avicanna ' or ' Company ') (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products, invites interested parties to participate in a conference call with Aras Azadian, Chief Executive Officer, and also Phil Cardella, Chief Financial Officer, where Mr. Azadian and Mr. Cardella will discuss the Company's Full Year 2024 financial results. The Company will file Full Year 2024 financial results after the close of market on March 31, 2025 and will host an earnings call at 8:30 am ET on April 1, 2025. Interested parties may join the earnings call by clicking below: Please use Passcode 240829. About Avicanna: Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial-stage business pillars. Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets. Medical cannabis care platform ( is a medical cannabis care platform formed with the aim to better serve medical cannabis patients' needs and enhance the medical cannabis patients' journey. is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company's majority owned subsidiary Santa Marta Golden Hemp SAS ('SMGH') is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company's international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company's supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. SOURCE Avicanna Inc. Stay Connected For more information about Avicanna, visit our website or contact Ivana Maric by email at info@ Cautionary Note Regarding Forward-Looking Information and Statements This news release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, 'may', 'would', 'could', 'will', 'likely', 'expect', 'anticipate', 'believe', 'intend', 'plan', 'forecast', 'project', 'estimate', 'outlook' and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements related to the Offering, the use of proceeds of the Offering, the receipt of all approvals of the Toronto Stock Exchange in connection with the Offering, statements with respect to the Company's future business operations, the opinions or beliefs of management and future business goals. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company's annual information form dated April 1, 2024, filed with the Canadian securities regulators and available under the Company's profile on SEDAR+ at The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
