CanadaBis Capital Inc. reported gross revenue of $9.6 million and net revenue of $5 million for the three months ended October 31, 2024 (Q1 2025), with net income of $321,569.

CanadaBis is the parent company of cannabis brands like Stigma Grow and Dab Bods, as well as companies like Stigma Roots, Goldstream Cannabis, and the INDICAtive Collection.

Gross and net revenues for the company were up year over year compared to the same reporting period in 2023 ($9 million and $5.7 million). Net income and comprehensive income were down from $707,117 in Q1 2024, but up from a $326,557 loss in the previous quarter of Q4 2024.

The company attributes this increase in net revenue to continued growth and demand from its new and existing SKUs launched under the Dab Bod brands.

The company attributes the decrease in its net income to increased competition, especially among higher THC products, leading to price compression in the market. 

CanadaBis’ cultivation and wholesale business generated $2.4 million in gross revenue, with the bulk of its revenue, $7.2 million, coming from extract sales. The company reports a 19% decrease in its overall sales of extracts to provincial bodies, although it says it increased demand in Manitoba.

CanadaBis incurred more than $4.5 million in excise duty in the most recent quarter. 

In addition to the company’s sale of cannabis concentrates and extracts, flower and pre-rolls, CanadaBis provides third-party and white-label processing contracts, including product development R&D.

The company currently owns a 66,000-square-foot facility, of which approximately 44,000 square feet of the building has been developed and equipped for the capacity to grow 225 kg of cannabis per year. The majority of its footprint is equipped and being used for the production of cannabis products such as extracts and infused pre-rolls.

CanadaBis is also in the process of shipping its first international products to the European market.

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