Record Monthly Revenue Positions Edibles Company for Success

The Canadian cannabis edibles market continues generating unprecedented traction and companies such as Indiva (TSXV:NDVA) remain poised to capitalize on this ever-growing industry. [Open in your browser]( [Stockhouse.com]( [Investor Alert] [Record Monthly Revenue Positions Edibles Company for Success] Record Monthly Revenue Positions Edibles Company for Success --------------------------------------------------------------- [Visit the company website]( [Facebook]( [Twitter]( Record Monthly Revenue Positions Edibles Company for Success) [LinkedIn]( [Email](mailto:?subject= Record Monthly Revenue Positions Edibles Company for Success&body= Jocelyn Aspa | The Market Online The Canadian cannabis edibles market continues generating unprecedented traction and companies such as [Indiva (TSXV:NDVA)]( remain poised to capitalize on this ever-growing industry. [SEE COMPANY PROFILE]( Case in point, it is anticipated that the Canadian cannabis market will reach C$7.2 billion in 2027 with most of that demand coming from provinces like Ontario, British Columbia and Alberta. Indiva, which is the leading Canadian-based producer of cannabis edibles, holds the top ranking in market share of sales and units sold in the edibles category across the provinces of B.C., with a 31.5 per cent share, as well as Alberta and Ontario with a 27.6 per cent share each. With the first quarter of the year well over and the second quarter of the year in full swing, the company recently announced its Q1 2024 financial results, highlighting some significant takeaways year-to-date thus far. Indiva reports Q1 2024 results In a press release, [Indiva reported]( that its gross revenue for the quarter totalled C$10.6 million, which is a 15.2 per cent decrease from Q4 2023 and a 2.6 per cent increase year-over-year compared with Q1 2023. Niel Marotta, CEO of Indiva, told The Market Online that gross profit increased 18 per cent year-over-year and said the company's profitability continues to improve. [ ]( Click to view Despite Indiva's revenue remaining flat in the quarter, Marotta explained that the company has transformed the business "significantly" over a 12-month period. "Over half of our revenue has basically been replaced," he said, explaining that the company lost a product based on a regulation change, but that Indiva has been able to more than replace that loss with incremental revnue from some new brands. Other highlights from the company's Q1 2024 financial results include: - Net revenue from edible products was $8.4 million in Q1 2024, or 89.7 per cent of net revenue, up 14.7 per cent from $7.3 million in the prior year period, driven by strength in core brands including Pearls by Grön, No Futre and Blips, offset by weakness in Wana. - Gross profit increased 18.4 per cent to $2.8 million or 29.7 per cent of net revenue compared to $2.3 million or 24.8 per cent of net revenue in Q1 2023 due to lower impairments of inventory and positive mix impact. - The company sold in Q1 2024 products containing 186 million milligrams of cannabinoids, the active ingredient in its products, which represents a 14.7 per cent decrease when compared to the 218 million milligrams in product sold in Q4 2024 In terms of the company's growth over the quarter, much of the company's success came from its core brands such as Pearls by Grön gummies where depletions in three provinces more than doubled year-over-year. Indiva has also seen the continued growth of its No Future and Blips brands while more than 30 per cent of its net revenue in Q1 2024 came from Indiva-created-and-owned brands such as Indiva 1432 Chocolate, Indiva Blips tablets, Indiva Doppio Sandwich Cookies and No Future Gummies and Vapes. [INVESTOR UPDATES]( Q2 2024 and beyond outlook With Q2 in full swing, Indiva remains positive on its future outlook for the rest of the year and beyond, having already reached significant milestones in Q2 2024 alone. According to Marotta, April was the company's "best month ever," having pulled in more than $4 million in net revenue as well as generating positive net income. "[The company is] very happy with how Q2 is progressing and, in fact, with April and May together we're already ahead of the revenue reported for the full Q2 last year," he said. Essentially what this means is that Indiva is on track for sequential and year-over-year growth, which also includes the company expecting to report record revenue and record profitability by the end of the year. Investor's corner As Canada's largest market share holder in the edibles market, Indiva presents itself as a unique opportunity for investors looking for a low-cost option with massive potential upside. Thanks to its most successful month in terms of revenue in April and the expectation that it will report record revenue throughout the year, there's no better time than now for investors to take the plunge with Indiva. Join the discussion: Find out what everybody's saying about this stock on the [Indiva Ltd. Bullboard investor discussion forum]( and check out the rest of [Stockhouse's stock forums and message boards](. [VIEW COMPANY WEBSITE]( This is sponsored content issued on behalf of Indiva please see the [full disclaimer here](. 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