08:53 AM EDT, 03/20/2025 (MT Newswires) -- Auxly Cannabis Group ( CBWTF ) , a consumer-packaged goods company in the cannabis products market, on Thursday reported a swing to profit in the fourth quarter as well as a rise in revenue.

The company reported net income for the three months ended Dec. 31, of $4.4 million compared with net loss of $54 million a year earlier.

Among other highlights, Adjusted EBITDA for Q4 rose to $11 million compared with $2.3 million, a year earlier. Net revenue for the quarter increased to $34.6 million compared with $26.9 million, a year-ago.

The company claims Back Forty exited the quarter as the #1 cannabis brand in Canada and remains the #1 brand today.

On outlook, the company "expects to further improve in 2025 through focused innovation, expansion of its distribution footprint and enhanced production efficiency".

"With demand for THC in Canada and around the world at an all-time high, Auxly is uniquely positioned to capitalize on this opportunity through our large-scale, low-cost cultivation advantage and innovation leadership in the largest, fastest-growing product categories," said Auxly Chief Executive Hugo Alves.