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International Expansion Still Major Growth Driver For Canadian Cannabis Co. Avant, Reports 4% YoY Increase In Q2 Net Revenue

Cannabis producer Avant Brands Inc. (TSX:AVNT) (OTCQX:AVTBF) (FRA: 1BUP) reported its financial results on Monday for the second quarter ended May 31, 2024. The British Columbia-based company said in a press release that it has achieved "significant financial milestones driven by strategic international expansion and operational improvements." Q2 2024 Financial Highlights Gross revenue increased by 5% reaching CA$9.4 million ($6.8 million) compared to the second quarter of 2023, while net revenue rose by 4% over the same period to CA$8.3 million, demonstrating sustained growth driven by robust international demand. International sales rose 26% year-over-year to reach a record CA$3.7 million, now representing 45% of net revenue. Gross loss amounted to CA$1.8 million, compared to a gross profit of CA$3.3 million in the prior year's quarter. Net ...