Toronto-based company Ayurcann Holdings Corp. continues to dominate the Canadian cannabis industry by showing an increase in revenues more than ten-fold.
Ayurcann’s fiscal year ended on June 30, where the company reported an increase in revenue valuing over seven-million dollars. That’s 1,149 percent over their 2020 fiscal year.
The company has reported substantial growth in their Operating Income which valued over two-million dollars, with an increase of 440% compared to their 2020 fiscal year.
“We are thrilled to see our revenues growing consistently. Our margins are robust, and we are increasingly profitable. We are proud to be one of the very few in our peer group showing growing revenues and a positive operating income with a consistent path of profitability,” Igal Sudman, CEO of Ayurcann said.
Receiving their license in 2020, Sudman and Roman Buzaker founded the company in 2018.
Their processing facility located in the GTA offers many services for Canadian licensed cannabis producers. Recently they finished the Phase 2 expansion, allowing them to increase production and process up to 300,000 kg of biomass and up to three-million fill product for co-manufacturing vapes, topical and tinctures per year.
Sudman’s 20 years of experience in founding and developing businesses which have been featured on Canadian Profit 50, has allowed him to think outside-the-box and achieve sales volumes that top his competition. Over the past year selling over one-billion milligrams of THC and CBD distillate into the Canadian market through high volume manufacturing and distribution agreements.
Another avenue that is being established by Ayurcann is the Ayurcann Marketplace, where patients can easily access a variety of products, while giving them the privacy, security, support staff and health practitioners that will help educate and prescribe the cannabis that addresses the patient’s needs.
“The marketplace is a patient only portal where medical patients with prescriptio_ns can be educated and learn more about the various cannabis products available, interact directly with our patient support staff and create a customized product selection to address their needs” said Sudman.
Those searching for new cannabis products will see Ayurcann’s exclusive partnerships with national and international brands including the Xplor brand. The Xplor brand offers high potency active components in both THC and CBC at an exceptional value proposition, making it unique to the market. Compared to other CBD products which have a potency of 100-200mg per container, the Xplor line of products can offer up to 1500mg per container, at a value price.
Sudman and Ayurcann holdings are not slowing down any time soon. They’ve signed multiple international brands to manufacture and distribution agreements which include Innocan Pharma from Israel, Green Bee Botanicals from California, and Her Highness from New York.