Nevis Brands (CSE:NEVI) reported a 44% year-over-year jump in revenue for the fiscal fourth quarter driven by royalty revenue for its Major branded cannabis beverages from licensees in five states.
Revenue for the quarter ended November 30, 2023, was C$395,876, up from C$275,669 in the year-ago quarter.
It also reduced its cost of goods sold by 7% year-over-year from C$144,381 to C$134,223.
“We are pleased that we were able to both grow revenues and reduce our cost of goods sold in Q4,” Nevis Brands (CSE:NEVI) CEO John Kueber commented.
“We continue to grow revenues in states where we are currently operating and are excited about the additional revenues that will be generated from licensees that have been secured but did not contribute to revenues as of yet.”
He noted that the company’s Q4 revenues do not include Nevada or California, which are now revenue-generating. “Michigan and Missouri are also slated to…
