Delivra Health Brands Inc. (TSX-V:DHB) is seeing growth in revenue, profit, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the fiscal year to date.
For the nine-month period that ended March 31, 2024, the health and wellness sector-focused consumer packaged goods company reported a 36% increase in revenue to $879,200 from $647,400 for the same period a year earlier.
The increase was attributed to sales of its Dream Water product in the US of $200,000 and increased sales of LivRelief and Dream Water in Canada of $318,000.
It achieved a gross profit of $456,600 and a gross profit margin of 52%, up from $282,600 and 44% for the year-ago period, attributed to increased sales volume and improved customer mix, bolstered by disciplined management of operational cost.
Adjusted EBITDA grew to $845,000 from $9,000 driven by the company’s focus on a different customer mix and margin improvement.
"The company has once again achieved remarkable results, driving growth in revenue of 36% year over year and realizing $845,000 in adjusted EBITDA for the nine months ended March 31, 2024,” Delivra Health’s CEO Gord Davey commented.
“At the same time, we are focused on reinvestment in our business, through increasing market awareness, driving innovation, and expanding marketing campaigns, in order to support the increased visibility of our brands in the market.”
He thanked the company’s shareholders and stakeholders for their ongoing commitment to the company.
“The financial results for the third quarter of fiscal 2024 has set the stage for an ambitious and prosperous fiscal 2025,” Davey said.