Friday, March 25, 2022 9:30:37 AM
07:47 AM | Aleafia Health Inc. (ALEAF) | By: Khyathi Dalal, SA News Editor
Aleafia Health (OTCQX:ALEAF) indicated that it continues to expand market share by focusing on the highest revenue generating dried flower, pre-roll, and vape product categories.
It also changed business strategy to become a branded cannabis products provider, with branded cannabis representing 80% of total net revenue in 2021 compared to 33% in 2020.
In February, Aleafia Health achieved record 2.06% adult use market share in four major markets, advancing 33% from 1.54% in November 2021; market share in flower rose to 1.86% from 1.47%, pre-rolls rose to 2.62% from 2.09%, vapes rose to 2.18% from 0.92%, and oil rose to 4.01% from 2.68%.
Market share growth were hampered by temporary capacity limitations at the company's Grimsby greenhouse facility.
Besides receiving a $1M purchase order from Ontario for adult use products, it has secured purchase orders in 2022 YTD from Australia and Europe that exceed 2021 second half sales to international markets.
The company is targeting break-even adj. EBITDA profitability in 2H22.
Shares trading 5% down premarket.
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