PharmaCielo Cannabis Co. Reports 270% YoY Increase In Q3 Revenue, Confident About Profitability In 2025
Cannabis products company PharmaCielo Ltd. (TSXV: PCLO) (OTC: PCLOF) announced on Monday financial and operational results for the three and nine months ended Sept. 30, 2024. The Toronto-based company said revenue for the third quarter totaled CA$1.3 million ($927,772), up from CA$352,000 in the prior year's period. For the nine months, total revenues reached CA$2.4 million, compared to CA$1.3 million in 2023. "PharmaCielo achieved substantial revenue growth, successfully expanded into new international markets, and continued its focus on reducing costs to improve its operational efficiency," Marc Lustig, chairman and CEO of PharmaCielo, said. "Our strategic position in multiple regions, coupled with an expanding product portfolio beyond CBD isolate, has enhanced our ability to serve diverse international markets and generate increased revenue."
