Red White & Bloom's 2024 revenue at $80.2-million

Executive Summary

• Red White & Bloom Brands Inc. has filed its consolidated audited financial statements for the fiscal year ended December 31, 2024, along with the related Management’s Discussion and Analysis (MD&A) and executive certifications.
• The company previously faced a failure-to-file cease trade order (FFCTO) issued on July 3, 2025, due to delayed annual and interim filings; this order remains in effect until the Q1 2025 filings are completed and revoked by the regulator.
• Fiscal 2024 results show increased revenues and a significant improvement in EBITDA compared to the restated 2023 figures, which were heavily impacted by non-cash impairments.

Key Details

• Fiscal Year 2024 Consolidated Results (vs. Restated 2023):
  • Revenues: $80.2 million, an increase of $10.6 million from restated 2023 revenues of $69.6 million.
  • Gross Profit (after fair-value adjustments): $28.4 million, an increase of $3.4 million from restated 2023 gross profit of $25.0 million.
  • Operating Expenses: $40.4 million, an increase of $9.4 million compared to restated 2023 operating expenses of $31.0 million.
  • EBITDA: $10.8 million, representing a net improvement of $99.76 million compared to restated 2023 adjusted EBITDA of negative $89.0 million (which included $94.6 million in non-cash impairments).
• Fourth Quarter 2024 Consolidated Results (vs. Restated Q4 2023):
  • Revenues: $18.7 million, an increase of $2.8 million from restated Q4 2023 revenues of $15.9 million.
  • Gross Profit (after fair-value adjustments): $5.4 million, a decrease of $5.1 million from restated Q4 2023 gross profit of $10.6 million.
  • Operating Expenses: $9.1 million, a decrease of $3.7 million compared to restated Q4 2023 operating expenses of $12.8 million.
  • EBITDA: $6.3 million, an increase of $97.6 million compared to restated Q4 2023 negative adjusted EBITDA of $91.3 million (which included $94.6 million in non-cash impairments).
• Regulatory Status:
  • A failure-to-file cease trade order (FFCTO) was issued effective July 3, 2025, due to delays in annual and Q1 2025 interim filings.
  • The FFCTO remains in effect until the Q1 2025 filings are completed and the regulator revokes the order.
• Company Profile: Red White & Bloom is a multistate cannabis operator and house of premium brands operating in the U.S., Canada, and select international jurisdictions, with a focus on major U.S. markets including California, Florida, Missouri, Michigan, and Ohio.