April 25, 2025 – TheNewswire - Vancouver, B.C. – Herbal Dispatch Inc. (CSE: HERB) (“Herbal Dispatch” or the “Company”) announces its financial results for the year ended December 31, 2024. Gross sales in 2024 reached $12.0 million, representing a 110% increase from $5.7 million reported in 2023. This growth was primarily driven by strong performance in both domestic recreational cannabis sales and exports. In line with this increase, net revenue rose to $9.9 million in 2024, up 109% from $4.7 million the previous year.

 

The Company’s export sales saw significant expansion in 2024, fueled by increasing demand in international markets and ongoing efforts to establish new client relationships worldwide. Export revenue grew by 172%, reaching $2.9 million compared to $1.1 million in 2023. The Company continued shipments to Australia and Portugal and also completed its first order to Brazil. Herbal Dispatch also saw a significant rise in domestic sales in 2024, driven by the expansion of customer relationships and an enhanced retail portfolio featuring a wider variety of products.

 

“We are very encouraged by the strong revenue growth we delivered in 2024,” said Philip Campbell, Herbal Dispatch’s President & CEO. “Looking ahead to 2025, our focus is on building new, profitable sales channels and scaling our operations efficiently. Key priorities include growing our domestic footprint across Canada and boosting export sales in established markets such as Australia and Portugal. We’re also actively expanding into new international markets, with sales already underway in the Czech Republic and anticipated orders from Germany and Costa Rica later this year.”

 

Based on preliminary financial results, The Company expects its gross sales for the first quarter of 2025 to be approximately $3.2 million - double the $1.6 million recorded in the same period last year. Additionally, the company is currently seeing robust export orders, which may position the Company for a strong performance in the second quarter of 2025.

 

CONSOLIDATED FINANCIAL STATEMENTS

 

The full version of the consolidated financial statements and associated management's discussion & analysis for the year ended December 31, 2024 can be viewed under the Company's profile on SEDAR+ at www.sedarplus.ca and will also be available on the Company's website at  www.herbaldispatch.com.

    

ABOUT HERBAL DISPATCH INC.

The Company owns and operates leading cannabis e-commerce platforms and is dedicated to providing top quality cannabis to informed consumers at affordable pricing. The Company’s flagship cannabis marketplace, herbaldispatch.com, is a trusted source for exclusive access to small-batch craft cannabis flower and a wide-array of other product formats. The Company’s common shares trade on the Canadian Securities Exchange under the symbol “HERB”

 

For further information:

Philip Campbell, CEO and Director

Email: IR@herbaldispatch.com

Telephone: 1-833-432-2420

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

Certain statements in this news release, including statements or information containing terminology such as “anticipate”, “believe”, “intend”, “expect”, “estimate”, “may”, “could”, “will”, and similar expressions constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, that address activities, events, or developments that the Company or a third party expect or anticipate will or may occur in the future, including the Company’s future growth, results of operations, performance, and business prospects and opportunities are forward-looking statements. These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company. These statements require the Company to make assumptions it believes are reasonable and are subject to inherent risks and uncertainties.

 

Actual results and developments may differ materially from the anticipated results and developments discussed in the forward-looking statements as certain of these risks and uncertainties are beyond the Company’s control. These risk factors are interdependent and the impact of any one risk or uncertainty on a particular forward-looking statement is not determinable. Examples of forward-looking statements in this news release and the key assumptions and risk factors involved in such statements include, but are not limited to, executing the Company’s strategic growth initiatives for 2025, including growing sales both domestically and via export. The successful execution of these initiatives is subject to a number of risks and uncertainties, including industry competition, and future customer demand for the Company’s products, among others.

 

Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected effects on the Company. These forward-looking statements are made as of the date of this news release. Except as required by applicable securities legislation, the Company assumes no obligation to update publicly or revise any forward-looking statements to reflect subsequent information, events, or circumstances.

 

THE CANADIAN SECURITIES EXCHANGE (THE "CSE") HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS NEWS RELEASE. NEITHER THE CSE OR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.