Company Performance - Village Farms International, Inc. remains a top three cannabis producer in Canada and was the second fastest growing producer organically year-over-year[393]. - Sales for the year ended December 31, 2024 increased by $50,578, or approximately 18%, to $336,181 compared to $285,603 for 2023[400]. - Sales for VF Fresh reached $169,183, while Cannabis Canada and U.S. Cannabis generated $148,856 and $17,390 respectively, totaling $336,181 for the year ended December 31, 2024[429]. - Canadian cannabis net sales for the year ended December 31, 2024 increased by $34,826, or 31%, to $148,856 from $114,030 in 2023[432]. - U.S. Cannabis net sales for the year ended December 31, 2024, decreased by 14% to $17,390 from $20,330 in 2023, attributed to new restrictions on CBD sales[457]. - Produce sales for the year ended December 31, 2024, increased by 12% to $169,184 compared to $151,243 in 2023, driven by a 13% increase in pounds sold[471]. Financial Results - The net loss for the year ended December 31, 2024 was $3,181, compared to net income of $2,936 in 2023, primarily due to an inventory write-down of $10,436 (C$15,000)[443]. - Adjusted EBITDA for 2024 decreased by $5,797 to $1,788 from $7,585 in 2023[413]. - The net loss attributable to Village Farms International, Inc. shareholders for 2024 was $35,850, an increase of $1,052, or 3%, compared to $34,798 in 2023[412]. - Loss before taxes and loss from equity method investments for 2024 was $37,305, an increase of $9,937, or 36%, compared to $27,368 in 2023[409]. - Adjusted EBITDA for the year ended December 31, 2024 was $7,282, a decrease of $7,482, or 51%, compared to $14,764 in 2023, largely due to the inventory impairment charge[445]. Cost and Expenses - Cost of sales for 2024 increased by $52,604, or 22%, to $288,781 from $236,177 in 2023[401]. - Selling, general and administrative expenses for 2024 increased by $5,547 to $71,048, or 21% of sales, from $65,501, or 23% of sales, in 2023[403]. - Gross margin for 2024 decreased by $2,026, or 4%, to $47,400 from $49,426 in 2023[402]. - The company incurred excise tax of $71,953 (C$98,442) for the year ended December 31, 2024, an increase of $13,938 (C$20,127), or 24%, compared to $58,015 (C$78,315) in 2023[433]. Impairments and Write-downs - Goodwill and intangible asset impairments for 2024 were $11,939 compared to $14,020 in 2023[408]. - Inventory write-downs for the year ended December 31, 2024, were $11,038 due to older manufactured products requiring higher rework costs than their resale value[537]. - The company reported impairments of $10,039,000 for goodwill and $1,900,000 for intangible assets in 2024, compared to $11,300,000 and $2,720,000 respectively in 2023[514]. Market and Operational Challenges - The company continues to face challenges from unregulated hemp-derived products in the U.S. market, which may impact market share for the CBD industry[393]. - The company is exploring options to sell its Produce assets and has an ongoing sale process for its Monahans greenhouse facility[393]. - The company has material long-term debt and lines of credit that may be affected by rising interest rates, impacting the cost of capital[506]. Strategic Initiatives - The acquisition of Leli Holland was completed in Q4 2024, making it a wholly owned subsidiary, with sales expected to commence in February 2025[386]. - The company plans to continue focusing on market expansion and new product development to drive future growth[429]. - The company plans to consolidate its financial results with a 100% interest in Leli beginning on September 23, 2024[514]. Cash Flow and Liquidity - Cash and cash equivalents as of December 31, 2024 were $24,631, down from $35,291 as of December 31, 2023[485]. - Operating activities generated cash flow of $10,348 for the year ended December 31, 2024, compared to $5,315 for the year ended December 31, 2023[502]. - Cash flows used in investing activities for 2024 were $10,241 million, up from $6,231 million in 2023 and down from $20,889 million in 2022, primarily due to $6,061 million in capital expenditures for Leli and $4,022 million for cannabis operations[503].

Sales Performance - Full year consolidated sales increased by 18% year-over-year to $336.2 million[5] - Fourth quarter consolidated sales rose by 11% year-over-year to $82.6 million[5] - Canadian Cannabis sales grew by 31% year-over-year, with retail branded sales increasing by 23%[5] - Retail branded sales for Q4 2024 reached CAD $55.8 million, a decrease of 1% compared to CAD $56.1 million in Q4 2023[19] - Non-branded sales increased by 20% to CAD $9.5 million in Q4 2024, up from CAD $7.9 million in Q4 2023[19] - International sales surged by 127% to CAD $2.5 million in Q4 2024, compared to CAD $1.1 million in Q4 2023[19] - Net sales for the year ended December 31, 2024, were CAD $204.0 million, a 32% increase from CAD $154.0 million in 2023[19] - Village Farms reported Q4 2024 sales of $82.554 million, an increase of 11.0% from $74.225 million in Q4 2023[48] Financial Performance - Full year cash flow from operations amounted to $10.3 million, reflecting a strong operational performance[5] - The company reported a net loss attributable to shareholders of CAD $8.629 million for Q4 2024, an improvement from a net loss of CAD $25.483 million in Q4 2023[21] - Adjusted EBITDA for the year ended December 31, 2024, was CAD $1.788 million, down from CAD $7.585 million in 2023[21] - The company experienced a gross margin of CAD $6.931 million in Q4 2024, down from CAD $11.006 million in Q4 2023[21] - The net loss for 2024 was $35.850 million, which is a decrease from a net loss of $34.798 million in 2023[24] - Adjusted EBITDA for 2024 was $1.788 million, a significant improvement from a negative $7.585 million in 2023[24] - Basic loss per share for 2024 was $0.32, compared to a loss of $0.33 per share in 2023[24] - The company reported an operating loss of $37.305 million for 2024, compared to a loss of $27.368 million in 2023[24] Cost and Expenses - Selling, general and administrative expenses increased to CAD $18.455 million in Q4 2024, compared to CAD $15.521 million in Q4 2023[21] - The cost of sales for 2024 was $288.781 million, compared to $236.177 million in 2023, indicating a 22% increase[24] - The company reported an increase in amortization and depreciation expenses to $18,838,000 for the year ended December 31, 2024, compared to $15,926,000 for the previous year[28] - Depreciation and amortization expenses increased to $18,838 million in 2024 from $15,926 million in 2023, reflecting an increase of 18.1%[50] Asset and Liability Management - Total current assets decreased to $116.019 million as of December 31, 2024, from $151.768 million a year earlier, a decline of 23.5%[46] - The company’s total assets decreased to $389.306 million as of December 31, 2024, down from $463.989 million in 2023, a reduction of 16.1%[46] - The company’s total liabilities decreased to $125.348 million as of December 31, 2024, from $148.048 million in 2023, a decrease of 15.3%[46] International Expansion - Fourth quarter international sales surged by 113% year-over-year, with expectations to triple international sales in 2025[5] - The company is expanding its international presence with additional export contracts to new countries and customers in the Asia-Pacific and European regions, targeting significant medium- and long-term potential in the cannabis market[36] Operational Efficiency - The company aims to optimize resources between its Pure Sunfarms and Rose subsidiaries to enhance operational efficiencies in 2025[6] - The company is expanding its production capacity in the Netherlands, with a Phase II facility expected to quintuple annual production capacity by Q4 2025[5] Market Position and Strategy - Village Farms' subsidiary, Pure Sunfarms, is recognized as one of the largest cannabis operations globally and a leading brand in Canada, highlighting its competitive position in the market[34] - The company is focusing on expanding its cannabis segment in both Canada and the U.S. markets[24] - The company plans to enter the US high-THC cannabis market leveraging its extensive greenhouse operations of over 5.5 million square feet in West Texas[37] Environmental Impact - Village Farms Clean Energy partnership is expected to reduce Vancouver's greenhouse gas emissions by 475,000 metric tons of CO2 annually[38]

Core Insights - Village Farms International, Inc. reported its financial results for Q4 and the full year 2024, highlighting a focus on profitable growth initiatives for 2025 [2][4][6]. Financial Performance - Full year consolidated sales increased by 18% year-over-year to $336.2 million, with Canadian Cannabis sales growing by 31% and retail branded sales up by 23% [6][18]. - Q4 consolidated sales rose by 11% year-over-year to $82.6 million, while international sales surged by 113% [6][18]. - The company faced a $10.5 million non-cash impairment charge in Q4 related to non-flower inventory, which affected Adjusted EBITDA, bringing it to a loss of $3.5 million [3][5][6]. Canadian Cannabis Segment - Canadian Cannabis gross margin for Q4 was reported at 33%, with an Adjusted EBITDA margin of 12% when excluding the impairment charge [4][7]. - The company maintained the 1 market share in dried flower and ranked 2 in pre-rolls for 2024 [6][8]. International Expansion - The company has expanded its international sales, now shipping to five markets including Germany, Australia, the UK, and recently New Zealand, with plans to triple international medicinal export sales in 2025 [4][13]. - International sales in Q4 2024 increased significantly, reflecting strong demand in key markets [6][13]. Operational Developments - Village Farms is optimizing resources between its Pure Sunfarms and Rose subsidiaries to enhance operational efficiencies [4][8]. - The company has commenced a Phase II expansion at its Leli Holland subsidiary in the Netherlands, expected to quintuple annual production capacity by Q4 2025 [4][6][13]. Future Outlook - The company expressed confidence in its ability to execute a profitable growth strategy in 2025, supported by a strong balance sheet and healthy inventory position [4][6].

Core Insights - Village Farms International, Inc. reported its financial results for the fourth quarter and full year 2024, highlighting a focus on profitable growth initiatives for 2025 [1][3]. Financial Performance - Full year consolidated sales increased by 18% year-over-year to $336.2 million, with Canadian Cannabis sales growing by 31% and retail branded sales up by 23% [4]. - Fourth quarter consolidated sales grew by 11% year-over-year to $82.6 million, while international sales surged by 113% year-over-year [4][7]. - The company faced a $10.5 million non-cash impairment charge related to non-flower inventory, which impacted fourth quarter and full year Adjusted EBITDA, which would have been $7.0 million and $12.2 million, respectively, without this charge [2][5]. Canadian Cannabis Segment - Canadian Cannabis gross margin and Adjusted EBITDA margin for Q4 were reported at 33% and 12%, respectively, excluding the inventory impairment [3]. - The company maintained the 1 market share in dried flower, 2 in pre-rolls, and 3 overall in the Canadian market for 2024 [4][6]. - Retail branded sales in Canadian Cannabis decreased by 1%, while international medicinal sales increased by 127% [7][18]. International Expansion - The company has expanded its international sales, driven by demand in Germany, Australia, and the UK, and aims to triple international medicinal export sales in 2025 [3][4]. - Village Farms has recently entered the New Zealand market and is optimistic about future customer and market opportunities [3][4]. Operational Developments - The company is optimizing resources between its Pure Sunfarms and Rose subsidiaries to enhance operational efficiencies [3]. - A Phase II expansion project has commenced at the Leli Holland subsidiary in the Netherlands, expected to quintuple annual production capacity by Q4 2025 [4][3]. Cash Flow and Losses - Full year cash flow from operations was reported at $10.3 million, with a net loss improving by 66% to $8.6 million in Q4 [4][7]. - The company reported a consolidated net loss of $4.8 million for the year, compared to a profit of $4.0 million in the previous year [20][24].

Core Insights - ROSE LifeScience Inc. has launched new product extensions for its Pure Laine and Tam Tams brands, aiming to enhance the cannabis experience for Canadian consumers [1] Product Offerings - Pure Laine Originals has introduced two new products: Pure Laine Selects – Special Haze & Original Kush Slims, available in 10-packs, featuring iconic cannabis cultivars [2] - Tam Tams has launched two pre-rolls: Cherry Bloom & Tropical Milkshake, designed to evoke the essence of a Montreal summer, available in a 7x0.5g format [3] - The winter 2025 product line from ROSE is now available in select provinces across Canada [3] Company Overview - ROSE LifeScience is a significant player in the Québec cannabis market, focusing on responsible production, sale, and consumption of cannabis [4] - The company is majority-owned by Village Farms International, which has extensive experience in controlled environment agriculture and is a leading supplier of fresh produce [5] - Village Farms operates Pure Sunfarms, one of the largest cannabis operations globally, and holds an 80% stake in ROSE LifeScience [6] Market Position - Village Farms ranks as the 2 cannabis producer in Canada and is expanding into the U.S. high-THC cannabis market, leveraging its greenhouse operations [7] - The company is also targeting international cannabis and CBD opportunities, particularly in the Asia-Pacific region and Europe, holding a cannabis license in the Netherlands [8]

Company Overview - Village Farms International, Inc. has announced its first shipment of Pink Kush to New Zealand through its subsidiary Pure Sunfarms, marking a significant step in its international expansion strategy [2][4] - Pink Kush is recognized as the top-selling dried flower strain in Canada over the past four years, highlighting its popularity and market strength [2][3] Market Expansion - The New Zealand cannabis market is projected to grow at a compound annual growth rate (CAGR) of 58% by 2030, indicating substantial growth potential for medical cannabis products [3] - Medleaf Therapeutics, a New Zealand-based company, will distribute Pink Kush under its 'Bloom' brand, leveraging its established distribution network across clinics and healthcare practitioners [3][5] Strategic Partnerships - The partnership with Medleaf Therapeutics is aimed at enhancing Village Farms' presence in international medical markets, showcasing the company's commitment to expanding its global footprint [4] - Medleaf's focus on market-proven medical cannabis products aligns with Village Farms' strategy to export leading cannabis products to growing international markets [5] Operational Strength - Village Farms operates one of the largest cannabis operations globally through Pure Sunfarms, recognized for being a low-cost greenhouse producer and a best-selling brand in Canada [8] - The company is also involved in various international markets, exporting medical cannabis to countries such as Germany, the UK, Israel, and Australia, while targeting new opportunities in the Asia-Pacific and European regions [9] Future Outlook - Village Farms plans to enter the US high-THC cannabis market, utilizing its extensive greenhouse operations and the expertise gained from its Canadian cannabis success [10] - The company is focused on expanding its international presence with additional export contracts and strategic investments in operating assets [9]

Company Overview - Village Farms International, Inc. is a vertically integrated supplier specializing in Controlled Environment Agriculture, focusing on high-value, high-growth plant-based Consumer Packaged Goods [4] - The company is a leading fresh produce supplier in the US and Canada and is expanding into the cannabis and CBD markets [4] Cannabis Operations - In Canada, Village Farms' subsidiary Pure Sunfarms is one of the largest cannabis operations globally and a top-selling brand [5] - The company holds an 80% stake in Rose LifeScience, a prominent cannabis product commercialization expert in Québec [5] - Village Farms is exporting medical cannabis from its EU GMP certified facility in Canada to various international markets, including Germany, the UK, Israel, and Australia [6] US Market Strategy - The company plans to enter the US high-THC cannabis market, leveraging its extensive greenhouse operations in West Texas, which spans over 5.5 million square feet [7] - Balanced Health Botanicals, a subsidiary, is a leading CBD and hemp-derived brand and e-commerce platform in the US [7] Clean Energy Initiatives - Village Farms Clean Energy, in partnership with Terreva Renewables, generates clean energy from landfill gas, significantly reducing greenhouse gas emissions in Vancouver [8] - The partnership contributes to a reduction of 475,000 metric tons of CO2 emissions annually, equivalent to removing over 100,000 vehicles from the road [8]

Industry Overview - The marijuana sector is experiencing volatility, with investors needing to conduct thorough research to develop effective investment strategies [1][2] - The industry is expected to continue facing ups and downs in 2025, driven by federal reform efforts and cannabis approval initiatives [2] Company Highlights - Village Farms International, Inc. produces and markets greenhouse-grown vegetables and has expanded its operations to include in-house production of CBD gummies through its subsidiary, Balanced Health Botanicals [4][6] - Canopy Growth Corporation is involved in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes across multiple countries [9][10] Financial Performance - Canopy Growth Corporation reported a 5% decrease in net revenue for Q3 FY2025 compared to the same quarter in the previous year [12] - The gross margin for Canopy Growth decreased by 400 basis points to 32% in Q3 FY2025 [12] - The operating loss from continuing operations for Canopy Growth was $24 million in Q3 FY2025, showing a 61% improvement compared to Q3 FY2024 [12] - Adjusted EBITDA loss for Canopy Growth was $3 million in Q3 FY2025, reflecting a 61% year-over-year improvement [12]

DENVER, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Balanced Health Botanicals' CBDistillery™, a wholly-owned subsidiary of Village Farms International (NASDAQ:VFF) and one of the best-selling CBD brands in the United States, today announced that its full range of hemp-derived gummies is now manufactured in-house at its GMP-certified facility south of Denver, Colorado. This internalization demonstrates the company's commitment to offering quality wellness products while enabling greater innovation, agility, and inven ...

– Company meets previous guidance on commencement of sales with deliveries of first flower harvest to coffeeshops –ORLANDO, Fla. and VANCOUVER, British Columbia, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced it has begun processing orders and deliveries at its wholly-owned Leli Holland subsidiary (“Leli”) in the Netherlands, meeting its previously-disclosed guidance on its timeline to commencement of sales in the Dutch ma ...