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Ayurcann Holdings reports revenue for the 3 months ending December 31, 2021

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9:00 AM ET, 02/22/2022 - GlobeNewswire

Toronto, Ontario, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Ayurcann Holdings Corp.(CSE:AYUR, OTCQB:AYURF, FSE:3ZQ0) (“Ayurcann” or the “Company”), a leading Canadian cannabis extraction company specializing in the processing and co-manufacturing of pharma grade cannabis and hemp to produce various derivative cannabis 2.0 and 3.0 products in the medical and recreational market, is pleased to report its financial and operating results for its second quarter ending December 31, 2021. All figures reported are in Canadian dollars.


Ayurcann reported revenues of $3.2 million for the three-months ended December 31, 2021, compared to $1.5 million for the three-months ended December 31, 2020, an increase of 106% year-over-year and 71% increase over the Q1 for the three-months ended September 30, 2021. Revenues for the six months ended December 31, 2021, were $5.1 million, a 115% increase over the similar period in 2020. Ayurcann reported gross margins of $1.8 million, for the three-months ended December 31, 2021, compared to $302,000 for the three-months ended December 31, 2020, an increase of approximately 500% year-over-year, maintaining strong control over sales and operating income. Gross margins for the six months ended December 31, 2021, were $2.7 million, compared to $408,000 in 2020, a 569% year over year increase. Ayurcann finished its Phase-2 expansion at the Pickering facility, and started production, increasing extraction capacity of up to 300,000 kilograms of biomass and up to 3 million filling and co-packaging capability for cannabis 2.0 and 3.0 products, providing Canadian licensed producers with a one-stop extraction facility and offering international brands seeking a go to market strategy.Ayurcann was nominated for and won two leading awards in Canada for Best Extraction and Best Toll Processing facility of the year. Ayurcann maintains one of the largest inventories of THC and CBD crude, THC and CBD distillate and pharma-grade CBD isolate for use in cannabis 2.0 and 3.0 products available for its co-manufacturing and brand partnerships. Ayurcann has expanded into the most of recreational markets throughout Canada and has over 150 SKU’s available of cannabis 2.0 and 3.0 products, with Fuego-branded vapes, Vida-branded tinctures and Glow-branded topicals having been shipped to Ontario, New Brunswick, Saskatchewan, Manitoba, and Alberta. Ayurcann is expecting further sales with its exclusive partnership brands such as; Innocan Pharma, Her Highness, Joints, Hustle & Shake, Bravo6 and Lucky Dragon. creating products to meet the demand of Canadian consumers.

Igal Sudman, Chief Executive Officer of Ayurcann, said, “this quarter we have shown and have proven again that Ayurcann is able to maintain a profitable business and expand its market share. Ayurcann works diligently to serve its clients and continues to grow its revenues, while keeping an eye on its bottom line.”

Mr. Sudman added: “we are thrilled to see our revenues grow at a steady pace while maintaining strong margins and being responsible to our shareholders. We can confidently say that we fully expect to show continued growth and build on our momentum.”

Estimable Member
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@dhtaylor Now that there's more than me posting about Ayurcann. Add that with Ayurcann's record sales, and fourth consecutive operating income, well, that should be enough for a video on these folks soon?  😉 I'm persistent. 

D. H. Taylor reacted

Noble Member Admin
Joined: 3 years ago
Posts: 1202


Hahaha… thanks for this.  I’m actually working through all of my companies this quarter to get at least an article up onto the site.  These guys are definitely on the list and I will probably get to them very soon as I am trying to work through via the release dates of their financial earnings (Probably next week, actually).  And, to be honest, putting contetn up here has been the best way to get my attention and get me looking at these companies.  

JP reacted

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