Avant Brands brought in $40 million in revenue in the fiscal year 2024, $35.8 million in net revenue, but reported a $22.6 million net loss.

This represents an increase in revenue and losses for the company compared to the previous fiscal year, when Avant reported $26.3 million in net revenue and a net loss of $5.2 million.

Sales of adult, non-medical cannabis sales (recreational) decreased year-over-year, but the decline was offset by an increase in wholesale sales in Canada.

Exports also increased significantly for Avant in 2024, from $9.4 million in 2023 to $19.4 million. 

Avant’s brand portfolio includes the brands BLK MKT, Tenzo, GreenTec (a medical cannabis e-commerce website), cognōscente, Treehugger, Pristine, and Flowr.

The company operates five production sites: Avant Craft Cannabis Inc. in Edmonton, Alberta; Grey Bruce Farms in Tiverton, Ontario; Tumbleweed Farms Corp in Chase, British Columbia; 3PL Ventures Inc. in Vernon, British Columbia; and The Flowr Facility and GreenTec Bio-Pharmaceuticals Corp, both in Kelowna, British Columbia. 

Avant was recently listed among some of the top-growing companies in Canada.

“Record revenues, significant international growth, and improved Adjusted Net Income–Fiscal 2024 was a landmark year for Avant Brands,” says Avant Brands founder & CEO Norton Singhavon. “We are focused on building on this success and creating long-term value for our stakeholders.”