MTL Cannabis Reports Record $83.1M Revenue for 2024
MTL Cannabis reported a record revenue of $83.1M for 2024, a 165.7% increase from the previous year. The company’s positive net income and $13.2M Adjusted EBITDA marked a 122.2% rise. Despite its market cap being lower than its one-year cash flow and adjusted EBITDA, the company has shown significant financial strength.
Company Background and Achievements
Based in Montreal, Canada, MTL Cannabis focuses on sustainable cultivation and the medical cannabis market. It merged with Canada House Cannabis and has an international presence in Germany, Australia, Poland, Portugal, and the UK. The company’s gross margin improved to 45.6%, and operating income surged by 486.7% to $4.6M. Net income was $2.4M, a significant recovery from a $2.2M loss the previous year.
Strategic Investments and Market Recognition
MTL Cannabis reinvested positive cash flow into business expansion, including facility upgrades in Montréal, Louiseville, and Pickering, increasing cultivation capacity to 19,500 kg annually. The MTL cannabis brand gained significant recognition, winning Brand of the Year at the 2024 Grow Up Conference and being named the #1 recommended brand by Canadian budtenders.
Market Position and Future Potential
Despite a market capitalization of only $9.14M, MTL Cannabis has demonstrated strong financial performance and potential for future growth, warranting deeper analysis.
