Village Farms International reported strong third-quarter results, marked by a 21% increase in consolidated net sales year-over-year and record adjusted EBITDA margins, reinforcing its position as a leader in the cannabis market.
- Consolidated net sales grew 21% year-over-year, reaching a record $64.1 million in the Canadian cannabis segment.
- Net income from continuing operations increased to $10.8 million, up nearly 10% sequentially from the previous quarter.
- Adjusted EBITDA hit a new high of $20.7 million, representing an adjusted EBITDA margin of 31%.
- International medical cannabis sales surged over 750% year-over-year, highlighting rapid growth in Germany and anticipated expansion into new markets.
- A 40 metric ton expansion project is underway, expected to increase annual production capacity by approximately 33% by early 2027.
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