Nextleaf Solutions Ltd., a marijuana-processing company based in British Columbia (CSE OILS), (OTCQB OILFF) and (FSE L0MA), reported a net profit of C$530.402 on Tuesday for the first quarter of its fiscal year 2025, which concluded Dec. 31, 2018. This follows on from a loss of C$1.4m for the fiscal year that ended in September 2024.
Nextleaf posted gross revenues of C$3.84 for its latest quarter. These figures were about the same as those reported in previous quarters, which was C$3.81 Million. They also showed an increase in gross margin to 32%, up from 25 %. According to Nextleaf’s latest quarterly report, revenue was lower than last year, at C$4.1m, and gross margin was higher, up 32% from 25%.
Nextleaf introduced eight new cannabis products during the third quarter under its Glacial gold brand. Nextleaf also stated that they temporarily shifted their focus to prioritizing “toll processing activities for Commercial Partners rather than bulk ingredient production” for B2B Sales, which helped to drive the profitability of the quarter.
We increased shareholder value by concentrating our efforts on high-margin sales activities. “Our lean manufacturing and agility in business allows us to respond quickly to changing market conditions,” Emma Andrews, CEO of the company said in a recent press release.
Nextleaf announced in a press release that it plans to expand its consumer packaged goods and infrastructure as well as launch even more cannabis product lines. Glacial Gold will also be getting a brand refresh this year.
Nextleaf’s total assets at the end of the third quarter were C$8.6 millions, which included C$359 857 in cash. Total liabilities totaled $3.4 million.