News

Record cannabis sales for Avant Brands

Published on March 7, 2025 by Pat Bulmer

Photo: Contributed/File Photo

Kelowna-based Avant Brands sold a record amount of cannabis in fiscal year 2024, a company financial statement showed.

The company sold 13,560 kilograms for the year ending in November, a 91% increase over the previous year.

Avant produced 12,643 kilograms, a 19% increase over 2023.

Revenues also set company records. Gross revenue for the year was $40 million and net revenue $35.8 million, the statement said.

Revenues were also up in the final quarter, although the company recorded a $1.8 million gross loss. “This decrease was primarily driven by non-cash impacts to biological asset valuations, partially offset by increased revenues,” the statement said.

“Fiscal 2024 was a landmark year for Avant Brands,” said founder and CEO Norton Singhavon in a news release.

For 2025, the company expects to expand sales in Australia, Germany, Israel and Portugal, and will be eyeing new markets in Czechia, Poland, Switzerland and the U.K.

Fine-tuning operations and the product line, and finding partners are also on the 2025 to-do list, the company said.

“Avant Brands is actively seeking partnerships with domestic licensed producers for contract growing of the company’s unique cultivars. This initiative will supplement existing production capacity and ensure a consistent supply of high-quality products to international clients,” the statement said.

Avant has five growing facilities — three near its Okanagan HQ, one in Alberta and one in Ontario. Its medical and recreational brands include blk mkt, Tenzo, flowr, GreenTec and Treehugger.