Delivra Health Brands Inc. (TSX-V:DHB) reported financial gains for the fiscal 2024 year, including a 26% year-over-year increase in net revenue.
Revenue for the 12 months ended June 30, 2024, was $12.38 million, driven by strong sales in the US and Canada.
Gross profit margins also improved to 52%, up from 49% in the previous year.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) saw notable growth of 68%, rising to $871,000 from $517,000 in fiscal 2023, attributed to increased sales, enhanced customer mix, and cost management efforts.
"Delivra Health Brands has consistently improved its market and financial position over the past four years. For the second straight year, we achieved positive adjusted EBITDA and positive cash flow,” Delivra Health CEO Gord Davey said in a statement.
“These results demonstrate the attractiveness and scalability of the company's brands to consumers, with growing opportunities year over year."
Davey noted that the company’s fiscal 2025 outlook will focus on increased market position and revenue growth through channel development and ongoing innovation of its brands.
“Supported by a strong management team and continued investment in marketing and digital initiatives, we anticipate continued revenue and profitability growth in the coming year,” he said.
Delivra Health’s portfolio features the brands Dream Water and LivRelief, which deliver relief from common health issues such as sleeplessness, chronic pain and anxiety.