1933 Industries Releases Q4 2024 and Annual Financial Results
Vancouver, BC, February 25, 2025 – 1933 Industries Inc. (“1933 Industries” or the “Company”), a leading Nevada-focused cannabis cultivator and producer, is thrilled to share its financial results for the fourth quarter (“Q4 2024”) and fiscal year ended July 31, 2024 and 2023 (“Fiscal 2024” and “Fiscal 2023”). All financial figures are reported in Canadian dollars.
Financial Highlights
For Fiscal 2024, the Company reported revenue of $75.2 million, a significant increase from $27.5 million in Fiscal 2023. The net loss for Fiscal 2024 was $12.5 million, a decrease from a net loss of $31.2 million in Fiscal 2023. Gross profit for Fiscal 2024 was $21.6 million, up from $3.5 million in Fiscal 2023.
Operational Highlights
During Fiscal 2024, the Company expanded its cultivation capacity by 150,000 sq. ft., bringing its total cultivation area to 300,000 sq. ft. The Company also increased its production capacity to over 3,000 kg of cannabis annually. Additionally, 1933 Industries launched several new products, including its Canna Hemp X line of CBD products and its Infused MFUSE beverages.
Impact on Consumers
The financial results of 1933 Industries indicate the continued growth of the cannabis industry, particularly in Nevada. For consumers, this growth means more options for high-quality cannabis and cannabis products. Companies like 1933 Industries are investing in research and development to create innovative products, such as Infused MFUSE beverages, that cater to various consumer preferences. As the industry grows, consumers can expect to see more competitive pricing and improved accessibility to these products.
Impact on the World
The cannabis industry is gaining momentum globally, with more countries legalizing cannabis for medicinal and recreational use. The financial results of 1933 Industries are a testament to the industry’s potential for growth. As more companies enter the market and invest in research and development, we can expect to see advancements in cannabis production methods, product innovation, and sustainability. Additionally, the legalization of cannabis can have positive economic impacts, including job creation, tax revenue, and reduced strain on law enforcement resources.
Conclusion
1933 Industries’ financial results for Fiscal 2024 demonstrate the continued growth of the cannabis industry, particularly in Nevada. The Company’s expansion of cultivation capacity, increased production capacity, and launch of new products are indicative of the industry’s potential for innovation and growth. For consumers, this growth means more options for high-quality cannabis and cannabis products. For the world, it means the potential for positive economic impacts and continued advancements in cannabis production methods and sustainability. As the industry continues to evolve, we can expect to see more companies following in 1933 Industries’ footsteps and contributing to the growth and innovation of the cannabis industry.
- 1933 Industries reports revenue of $75.2 million for Fiscal 2024, up from $27.5 million in Fiscal 2023.
- Net loss for Fiscal 2024 was $12.5 million, a decrease from $31.2 million in Fiscal 2023.
- Gross profit for Fiscal 2024 was $21.6 million, up from $3.5 million in Fiscal 2023.
- Company expanded cultivation capacity to 300,000 sq. ft. and increased production capacity to over 3,000 kg annually.
- Launched several new products, including Canna Hemp X line of CBD products and Infused MFUSE beverages.
- Industry growth means more options for high-quality cannabis and cannabis products for consumers.
- Industry growth can have positive economic impacts, including job creation, tax revenue, and reduced strain on law enforcement resources.
