Little Green Pharma recorded a deeper net loss in the first half of the financial year, even as the company delivered a positive EBITDA outcome and substantially higher revenue.
The H1 loss came in at A$3.5 million, a 59% increase compared with the same period in the prior year.
Revenue climbed nearly 37% to $17.5m, contributing to an adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) figure of $268,000 — a turnaround from the negative $511,000 recorded previously.
LGP credited the positive EBITDA outcome to sales growth and "early signs of economies of scale".
The company attributed the revenue increase to stronger sales both at home and abroad and "across most product categories".
LGP also reported positive operating cash flows of $738,000, a significant swing from the $1.8m outflow recorded in the prior corresponding period.
Total expenditure rose from $16.6m to $21m, with a $2.2m increase in raw materials and consumables used in operations accounting for a large portion of that growth.
Higher distribution costs, share-based payments of $1m, and an asset write-down of $800,000 also added to the overall cost increase.
On the domestic front, LGP said its Australian performance was partly driven by its CherryCo brand "despite rising competition".
