Indiva Reports Fiscal Year 2023 Results Including Record Positive EBITDA and Income From Operations
"We are very pleased with our performance in the fourth quarter and fiscal year 2023, generating record net revenue, improved gross margins as well as record positive EBITDA and income from operations.
- "We are very pleased with our performance in the fourth quarter and fiscal year 2023, generating record net revenue, improved gross margins as well as record positive EBITDA and income from operations.
- 35% of net revenue in Q4 2023 was derived from brands created and owned by Indiva including Indiva 1432 chocolate, Indiva Blips, Indiva Doppio Sandwich Cookies, and No Future gummies and vapes, up from 20% of net revenue in Q1 2023.
- Gross revenue in Q4 2023 was a record $12.6 million, representing a 15.5% sequential increase from Q3 2023, and a 21.9% increase year-over-year from Q4 2022.
- EBITDA was a record positive $1.6 million, or 4.2% of net revenue in 2023 versus a loss of $4.8 million in 2022.