Expanding Distribution In Ontario Pays Off, Decibel Cannabis Hits Record Q2 Net Revenue

Decibel Company Inc. (OTCQB: DBCCF) (TSX-V:DB) released its second quarter financial results for the three and six month periods ending June 30, 2022, revealing record net revenue of $18.6 million, with sequential growth of 11% over Q1 2022 and 49% over Q2 2021.

Net revenue growth was driven by expanded distribution particularly in the Ontario market, the continued launch of new General Admission and Qwest infused products in various provinces and continued growth in demand for derivative products.

Financial Highlights

Record gross margin before fair value adjustments, sequential improvement to 41% in Q2, compared to 35% in Q1 2022 and 41% in Q2 2021.

Record adjusted EBITDA of $3.2 million in Q2, with growth of …

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