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AUXLY REPORTS Q2 2023 FINANCIAL RESULTS

Eine Tageszeitung (Symbolbild). pixabay.com

PR Newswire

TORONTO, Aug. 14, 2023

TORONTO, Aug. 14, 2023 /PRNewswire/ - Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company") today released its financial results for the three and six months ended June 30, 2023. These filings and additional information regarding Auxly are available for review on SEDAR at www.sedar.com. All amounts are Canadian dollars except common shares ("Shares") and per Share amounts.

Q2 2023 Highlights and Subsequent Events

Total net revenues of $22.0 million in Q2 2023, a decrease of $2.0 million or 8% from the previous quarter and a decrease of $5.3 million or 20% compared to the same period in 2022;
SG&A declined by $1.3 million or 13% from the previous quarter and $4.1 million or 32% from the same period in 2022 as the Company continues to focus its efforts on reducing costs;
Adjusted EBITDA was negative $1.1 million, an improvement of $2.9 million as compared to the same period last year;
Retained the #5 LP position in Canada with a 5.2% share of market and continued to improve sales in the pre-roll segment, one of the fastest growing product categories, finishing the quarter with 3.4% share of market up from 2.9% in the previous quarter¹;
Back Forty Wedding Pie grew to become the #1 non-infused pre-roll SKU nationally in the quarter¹;
Successfully streamlined operations by transitioning all remaining dried flower and pre-roll cannabis product manufacturing, processing and distribution activities to Auxly Leamington; and
Further strengthened the Company's balance sheet by entering into an agreement with strategic partner Imperial Brands to extend the maturity date of the Imperial Brands convertible debenture by two years from September 25, 2024 to September 25, 2026.

_____________________________________
¹ Data provided by HiFyre IQ as at July 31, 2023

Financial Highlights

For the three months ended:

ARIVA.DE Börsen-Geflüster

Kurse

Auxly Cannabis Group

0,0332 $

-8,08%

Consumer Discretionary Select Sector SPDR Fund

175,54 $

+0,93%

Consumer Discretionary Select Sector SPDR Fund Chart

June 30,

June 30,

(000's)

2023

2022

Change

Total net revenues

21,990

27,335

(5,345)

-20 %

Net income/(loss)

(12,863)

(14,289)

1,426

10 %

Adjusted EBITDA*

(1,078)

(3,995)

2,917

73 %

Weighted average shares outstanding

1,002,014,308

888,266,729

113,747,579

13 %

For the six months ended:	June 30,	June 30,
(000's)	2023	2022	Change	Change
Total net revenues	45,958	49,961	(4,003)	-8 %
Net income/(loss)	(23,112)	(54,135)	31,023	57 %
Adjusted EBITDA*	(940)	(10,319)	9,379	91 %
Weighted average shares outstanding	978,146,905	875,843,490	102,303,415	12 %

As at:	June 30,	December 31,
(000's)	2023	2022	Change	Change
Cash and equivalents	$ 8,557	$ 14,636	$ (6,079)	-42 %
Total assets	$ 316,890	$ 331,820	$ (14,930)	-4 %
Debt**	$ 174,201	$ 174,475	$ (274)	0 %

*Adjusted EBITDA is a Non-IFRS financial measure. Refer to the Non-GAAP Measures.
**Debt is a supplementary financial measure. Refer to the Non-GAAP Measures.

Results of Operations

For the periods ended:

Three months June 30,

Six months June 30,

(000's)

2023

2022

2023

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