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.”