A few weeks ago we looked at Canadian cannabis company Ayurcann (AYURF) and how it was poised to capitalize on a growing market for legal cannabis via its business lines in white labeling, oil extraction and refinement, bulk oil sales, packaging solutions, and medical cannabis products. The original article outlined how Ayurcann was in a good position to stake a leadership claim in a potentially explosive growth market, and recently some additional catalysts have come to light. The recent industry-wide sell-off is presenting investors with an opportunity to pick up shares of an industry leader at a discount.
In the company’s most recent updates, several strategic initiatives were highlighted, including news that the company’s products are now available in more than 1,000 locations across Canada. In the vape segment, the company’s Fuego brand is consistently ranked in the top 5 brands in sales and is now available country-wide.
Twelve new SKUs have recently been accepted by provincial governance boards across several product lines including vapes, tinctures, flowers, and pre-rolls with shipping expected to begin in July of 2022. Tinctures look to be an area poised for breakout growth, and Ayurcann’s Joints brand is well-positioned to grab market share. Joints branded tinctures come in 15, 30, and 60 mL sizes, offering consumers excellent value for their money in the high potency CBD space.
Another positive development is the recent announcement that the company received a license from Health Canada to sell dried cannabis flowers through authorized distributors and retailers throughout Canada. This license should allow Ayurcann to pursue higher-margin opportunities and increase market share in Canada. Dried flowers are a high-growth segment within the cannabis market and Ayurcann now can meet market demand via national distribution. The dried flower products round out the company’s product portfolio and Ayurcann is now able to offer consumers a cannabis solution for any vehicle they desire.
Back in May Ayurcann reported its most recent quarterly results highlighted by revenue of $2.8 million, which was up from $2.6 million over the same period in 2021. The company realized a profit of $580,000 for the quarter as it establishes itself as one of the major dominant players in a rapidly growing industry. Canada was the first large developed nations to legalize both recreational and medicinal cannabis so the industry as a whole is in the very early stages. Ayurcann, as we have highlighted before, and now as their quarterly results demonstrate, is poised to be one of the future titans of this young and growing industry.
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