Red White & Bloom Brands Reports Fiscal 2024 Financial Results

Core Viewpoint - Red White & Bloom Brands Inc. has filed its consolidated audited financial statements for the year ended December 31, 2024, and is working to finalize its interim financial statements for Q1 2025 after a delay that resulted in a cease trade order [1][2][3]. Financial Performance Summary 2024 Fourth Quarter ("2024-Q4") Results - Revenues for 2024-Q4 were $18.7 million, an increase of $2.8 million from restated 2023-Q4 revenues of $15.9 million [7]. - Gross profit for 2024-Q4 was $5.4 million, a decrease of $5.1 million from restated 2023-Q4 gross profit of $10.6 million [7]. - Operating expenses totaled $9.1 million for 2024-Q4, down $3.7 million from restated 2023-Q4 operating expenses of $12.8 million [7]. - EBITDA for 2024-Q4 was $6.3 million, an increase of $97.6 million compared to restated 2023-Q4 negative adjusted EBITDA of $91.3 million, which included $94.6 million in non-cash impairments [7]. Fiscal Year 2024 ("2024-YTD") Results - Revenues for 2024-YTD were $80.2 million, reflecting a $10.6 million increase compared to restated 2023-YTD revenues of $69.6 million [7]. - Gross profit for 2024-YTD was $28.4 million, an increase of $3.4 million from restated 2023-YTD gross profit of $25.0 million [7]. - Operating expenses for 2024-YTD were $40.4 million, an increase of $9.4 million compared to restated 2023-YTD operating expenses of $31.0 million [7]. - EBITDA for 2024-YTD was $10.8 million, a net increase of $99.76 million compared to 2023-YTD negative adjusted EBITDA of $89.0 million, which also included $94.6 million in non-cash impairments [7]. Company Overview - Red White & Bloom Brands Inc. is a multi-state cannabis operator focusing on major U.S. markets, including California, Florida, Missouri, Michigan, and Ohio, as well as Canadian and international markets [6].