Inverell

AUXLY REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS AND PROVIDES OUTLOOK FOR 2024

Retrieved on: 
Monday, March 25, 2024
Automation, Oil, Inverell, Growth, BMO, COVID-19, Data, Travel, Imperial, Depreciation, Insurance, Health Canada, Cannabis, Gross margin, SKU, Love, Human back, Fire, Cadastre, Marketing, RSU, Drug

The impairments recognized in 2022 include impairments related to the closure of the Auxly Annapolis facilities.

Key Points: 
  • The impairments recognized in 2022 include impairments related to the closure of the Auxly Annapolis facilities.
  • Wages and benefits were $16.3 million for the year, as compared to $18.7 million for the same period of 2022.
  • Office and administrative expenses were $10.4 million for the year, $1.2 million lower than the same period in 2022.
  • Please see the Company's MD&A dated March 24, 2024, under "Non-GAAP Measures" for a further description of the following financial and supplementary financial measures.

AUXLY REPORTS FOURTH QUARTER AND FULL YEAR 2022 FINANCIAL RESULTS AND PROVIDES OUTLOOK FOR 2023

Retrieved on: 
Friday, March 31, 2023
Rationalization, Travel, Profit margin, COVID-19, CAD, Cannabis product testing, Stock, Absorption, Well-being, Sale, KGK, Public expenditure, EBITDA, Trust, Acquisition, Oil, Depreciation, Investment, SKU, Inverell, Cannabis, Growth, Adjustment, Health Canada, RSU, Automation, Video game, Drug, Pharmaceutical industry, Cryptocurrency, Security (finance), Renewable energy

Hugo Alves, CEO of Auxly, commented: "The Canadian cannabis industry faced numerous challenges in 2022 and Auxly was not immune to their impacts.

Key Points: 
  • Hugo Alves, CEO of Auxly, commented: "The Canadian cannabis industry faced numerous challenges in 2022 and Auxly was not immune to their impacts.
  • Our efforts have yielded positive results, including our first significant wholesales of bulk dried flower from Auxly Leamington, improved net revenues and blended margins, and reductions in SG&A during the fourth quarter.
  • For the year ended December 31, 2022, net revenues were $94.5 million as compared to $83.8 million during the same period in 2021.
  • Please see the Company's MD&A for the three and twelves months ended December 31, 2022, under "Non-GAAP Measures" for a further description of the following financial and supplementary financial measures.

AUXLY REPORTS Q2 2022 FINANCIAL RESULTS

Retrieved on: 
Monday, August 15, 2022
Travel, CAD, CEO, Growth, Investment, Sale, Leadership, Absorption, Imperial Brands, Workforce, Adjustment, Income, Public expenditure, EBITDA, Cannabis product testing, COVID-19, Company, Mission statement, Acquisition, Trust, Cannabis, Depreciation, Bank account, Automation, Oil, Stock, RSU, KGK, Inverell, Efficiency, Renewable energy, Drug, Video game, Fine chemical, Security (finance), Bank, Animal

FollowingtheacquisitionofAuxlyLeamingtoninNovember2021,theCompany recognizesgross profit or loss from Auxly Leamington as part of the costs of finished cannabis inventory sold only asproductissoldtotheCompany's customersafterbeingfurtherprocessed byAuxlyOttawaor Auxly Charlottetown.

Key Points: 
  • FollowingtheacquisitionofAuxlyLeamingtoninNovember2021,theCompany recognizesgross profit or loss from Auxly Leamington as part of the costs of finished cannabis inventory sold only asproductissoldtotheCompany's customersafterbeingfurtherprocessed byAuxlyOttawaor Auxly Charlottetown.
  • Prior to the acquisition of Auxly Leamington, the net operating results of Auxly Leamington were recorded in other income and expenses on an equity basis in proportion to the Company's ownership in the joint venture.
  • The net loss of $54.1 million through six months of 2022 includes the net impact of approximately $25.7 million related to the closure of the Auxly Annapolis and Auxly Annapolis OG facilities during the first quarter of 2022.
  • Please see the Company's MD&A dated June 30, 2022, under "Non-GAAP Measures" for a further description of the following financial and supplementary financial measures.

AUXLY REPORTS Q1 2022 FINANCIAL RESULTS

Retrieved on: 
Monday, May 16, 2022
Aphria (company), CAD, Income, Company, Cannabis product testing, EBITDA, Leadership, Investment, Mission statement, Public expenditure, Well-being, Automation, Cost, COVID-19, Adjustment, Trust, KGK, Workforce, Efficiency, Industry, Awareness, Stock, Travel, Sale, Depreciation, Acquisition, Inverell, MD, Drug, Video game, Financial services, Renewable energy, Online gambling, Real estate, Security (finance), Reinsurance, Bank, SG&A

Gross profits were impacted by the biological assets and inventory impairments of $5.0 million associated with the closure of the Auxly Annapolis and Auxly Annapolis OG facilities as announced on February 7, 2022.

Key Points: 
  • Gross profits were impacted by the biological assets and inventory impairments of $5.0 million associated with the closure of the Auxly Annapolis and Auxly Annapolis OG facilities as announced on February 7, 2022.
  • Following the acquisition of Auxly Leamington, the Company recognizes gross profit or loss from Auxly Leamington only as product is sold to the Company's customers after being further processed by Auxly Ottawa or Auxly Charlottetown.
  • Biological and inventory impairments of $0.7 million and $4.9 million respectively were attributable to the closure of the Auxly Annapolis and Auxly Annapolis OG facilities.
  • Please see the Company's MD&A dated March 30, 2022, under "Non-GAAP Measures" for a further description of the following financial and supplementary financial measures.

Auxly Reports Third Quarter 2021 Financial Results

Retrieved on: 
Monday, November 15, 2021
Depreciation, Safety, Adjustment, Industry, Inverell, MD, Leadership, SG, CAD, Health Canada, Income, Automation, COVID-19, Instagram, Research, Workforce, Facebook, EBITDA, Public expenditure, Sale, TSX, Travel, Twitter, Constitutional amendment, Acquisition, Company, Office, Absorption, Cannabis, KGK, Ageing, Adult, Drug, Ridesharing company, Tutoring, Animal, Reinsurance, Medicinal plants

Inventory impairment was $0.7 million for the third quarter and $1.1 million year-to-date 2021, primarily driven by packaging materials no longer being used by the Company.

Key Points: 
  • Inventory impairment was $0.7 million for the third quarter and $1.1 million year-to-date 2021, primarily driven by packaging materials no longer being used by the Company.
  • SG&A expenses were $11.6 million during the third quarter and $32.8 million year-to-date 2021, an increase of $0.6 million and a decrease of $4.5 million as compared to the same periods in 2020.
  • Wages and benefits were $4.0 million and $12.9 million for the third quarter and year-to-date of 2021 respectively, decreases of $1.3 million and $5.0 million, over the same periods in 2020.
  • Sunens received its cultivation licence in June 2020 and has scaled up operations and made product available for sale to licenced producers, including Auxly beginning in the first quarter of 2021.

Auxly Reports Q2 2021 Financial Results: Reports Record Revenues, Adjusted EBITDA and Canadian Recreational Market Share

Retrieved on: 
Monday, August 16, 2021
Income, Health Canada, KGK, EST, Adult, Ageing, CAD, Company, TSX, Office, MD, Absorption, COVID-19, Twitter, Public expenditure, Inverell, Instagram, Research, Telephone, Travel, Cannabis, Acquisition, Depreciation, Facebook, Leadership, Sale, Constitutional amendment, Safety, Industry, Workforce, Drug, Ridesharing company, Pharmaceutical industry, Tutoring, Animal, Lithium, Reinsurance, Retail

Inventory impairment was $0.1 million for the second quarter and $0.4 million year to date 2021.

Key Points: 
  • Inventory impairment was $0.1 million for the second quarter and $0.4 million year to date 2021.
  • In 2020, impairment of inventory was higher during the same periods due to additional charges associated with Inverells operations.
  • Selling, general and administrative expenses (SG&A) are comprised of wages and benefits, office and administrative, professional fees, business developments, share-based payments, and selling expenses.
  • Auxlys management team will host a conference call today, Monday August 16, 2021, at 10:00 a.m. EST to discuss its financial results.