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Highlights

  • Full-year 2024 revenue increased by CAD 10.6 million to CAD 80.2 million compared to 2023.
  • FY2024 EBITDA rose to CAD 10.8 million versus prior year’s negative CAD 89.0 million.
  • Gross profit for Q4 2024 fell to CAD 5.4 million from CAD 10.6 million in Q4 2023.

Red White & Bloom Brands Inc. (CSE: RWB) has filed its consolidated audited financial statements for the year ended December 31, 2024, along with related management discussion and certification documents. The company also confirmed that its 2025-Q1 filings remain pending, and a failure-to-file cease trade order (FFCTO) issued on July 3, 2025, remains in effect until those filings are completed.

For the fourth quarter of 2024, revenue was reported at CAD 18.7 million, a CAD 2.8 million increase from restated Q4 2023 revenue of CAD 15.9 million. However, gross profit after fair value adjustments declined by CAD 5.1 million to CAD 5.4 million. Operating expenses fell by CAD 3.7 million to CAD 9.1 million. Fourth quarter EBITDA was reported at CAD 6.3 million, a year-over-year improvement of CAD 97.6 million from negative CAD 91.3 million, which had included CAD 94.6 million in non-cash impairments.

On a full-year basis, Red White & Bloom posted 2024 revenues of CAD 80.2 million, up from CAD 69.6 million in 2023. Gross profit rose to CAD 28.4 million compared to CAD 25.0 million a year earlier. Operating expenses increased by CAD 9.4 million to CAD 40.4 million. Fiscal 2024 EBITDA improved to CAD 10.8 million, reversing a negative CAD 89.0 million EBITDA figure in 2023, which also included the same non-cash impairment amount.

The company stated that it is working to complete the remaining filings required to address the FFCTO. Once the filings for the first quarter of 2025 are submitted, the company expects the applicable securities regulator to consider lifting the cease trade order.