AmeriCann Inc. A CAN released insightful financial and operating results for the quarter ended December 2022 Earnings of $734.766an increase of 13% compared to $650,945 for the quarter ended December 2021.

Financially Highlights for the quarter ending December 2022

• Annual gross margins were 98.1%.

• Adjusted EBITDA for the quarter increased $111,794 to $337,623, an increase of 49.5% compared to the same quarter last year.

• Net income of $22,745 compared to a net loss of $533,028 for the quarter ended December 2021.

“AmeriCann’s focus on financial performance has delivered outstanding results with four consecutive quarters of positive net income,” said the CEO Tim Keogh. “We look forward to building on these results for the future as we expand operations at our Massachusetts Cannabis Center to generate even greater cash flow.”

AmeriCann is in the final design stages of expanding its MCC development in Freetown, Massachusetts. The Company has secured provisional cultivation and manufacturing licenses for MCC. The next phase of the Massachusetts Cannabis Center will require up to 60,000 square feet of extraction, manufacturing and distribution infrastructure and approximately 160,000 square feet of additional cannabis cultivation infrastructure.

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