Recent Insider Transactions • Jul 17
Independent Chairman of the Board recently bought CA$57k worth of stock On the 8th of July, Shawn Dym bought around 500k shares on-market at roughly CA$0.11 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Shawn has been a buyer over the last 12 months, purchasing a net total of CA$122k worth in shares. Recent Insider Transactions • Jul 10
Independent Chairman of the Board recently bought CA$57k worth of stock On the 8th of July, Shawn Dym bought around 500k shares on-market at roughly CA$0.11 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Shawn has been a buyer over the last 12 months, purchasing a net total of CA$78k worth in shares. Announcement • May 23
Decibel Cannabis Company Inc. Provides Earnings Guidance for the Second Quarter of 2026 and Reaffirms Earnings Guidance for the Full Year 2026 Decibel Cannabis Company Inc. provided earnings guidance for the second quarter of 2026 and reaffirms earnings guidance for the full year 2026. For the quarter, the company expects net revenue of $33 million to $35 million, implying year over year growth of 14% to midpoint of range.
For the full year guidance, the company expects net revenue of $130 million to $135 million. Reported Earnings • May 22
First quarter 2026 earnings released: CA$0.004 loss per share (vs CA$0.003 loss in 1Q 2025) First quarter 2026 results: CA$0.004 loss per share (further deteriorated from CA$0.003 loss in 1Q 2025). Revenue: CA$29.8m (up 41% from 1Q 2025). Net loss: CA$2.18m (loss widened 14% from 1Q 2025). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • May 22
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$7.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-CA$7.9m free cash flow). Minor Risk Market cap is less than US$100m (CA$75.0m market cap, or US$54.3m). Announcement • May 13
Decibel Cannabis Company Inc. to Report Q1, 2026 Results on May 21, 2026 Decibel Cannabis Company Inc. announced that they will report Q1, 2026 results Pre-Market on May 21, 2026 Price Target Changed • Apr 19
Price target increased by 7.7% to CA$0.23 Up from CA$0.22, the current price target is an average from 3 analysts. New target price is 73% above last closing price of CA$0.14. Stock is up 125% over the past year. The company is forecast to post earnings per share of CA$0.015 next year compared to a net loss per share of CA$0.0051 last year. Announcement • Apr 18
Decibel Cannabis Company Inc. Provides Earnings Guidance for the Full Year 2026 Decibel Cannabis Company Inc. provided earnings guidance for the full year 2026. For the period, the company expects Net Revenue of $130 to $135 million, implying growth of 18% to midpoint of range. Reported Earnings • Apr 17
Full year 2025 earnings released: CA$0.005 loss per share (vs CA$0.032 profit in FY 2024) Full year 2025 results: CA$0.005 loss per share (down from CA$0.032 profit in FY 2024). Revenue: CA$112.7m (up 22% from FY 2024). Net loss: CA$2.92m (down 122% from profit in FY 2024). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 08
Decibel Cannabis Company Inc. to Report Q4, 2025 Results on Apr 16, 2026 Decibel Cannabis Company Inc. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Apr 16, 2026 Price Target Changed • Apr 07
Price target decreased by 7.1% to CA$0.22 Down from CA$0.23, the current price target is an average from 3 analysts. New target price is 67% above last closing price of CA$0.13. Stock is up 117% over the past year. The company is forecast to post earnings per share of CA$0 for next year compared to CA$0.032 last year. Reported Earnings • Nov 20
Third quarter 2025 earnings released: CA$0.002 loss per share (vs CA$0.001 loss in 3Q 2024) Third quarter 2025 results: CA$0.002 loss per share (further deteriorated from CA$0.001 loss in 3Q 2024). Revenue: CA$32.9m (up 37% from 3Q 2024). Net loss: CA$1.34m (loss widened 152% from 3Q 2024). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Nov 20
Decibel Cannabis Company Inc. Revises Revenue Guidance for Full Year 2025 Decibel Cannabis Company Inc. revised revenue guidance for full year 2025. For the period, the company expects revenue of approximately USD 115 million compared to previous guidance of USD 130 million. Announcement • Nov 07
Decibel Cannabis Company Inc. to Report Q3, 2025 Results on Nov 19, 2025 Decibel Cannabis Company Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 19, 2025 Announcement • Oct 07
Decibel Cannabis Company Inc., Annual General Meeting, Dec 11, 2025 Decibel Cannabis Company Inc., Annual General Meeting, Dec 11, 2025. Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CA$0.003 (vs CA$0 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.003 (up from CA$0 in 2Q 2024). Revenue: CA$29.8m (up 35% from 2Q 2024). Net income: CA$1.65m (up CA$1.59m from 2Q 2024). Profit margin: 5.5% (up from 0.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Aug 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.3% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$60.6m market cap, or US$43.9m). Recent Insider Transactions • Jun 08
Independent Chairman of the Board recently bought CA$146k worth of stock On the 5th of June, Shawn Dym bought around 2m shares on-market at roughly CA$0.07 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Shawn's only on-market trade for the last 12 months. Reported Earnings • May 23
First quarter 2025 earnings released: CA$0.003 loss per share (vs CA$0 in 1Q 2024) First quarter 2025 results: CA$0.003 loss per share (further deteriorated from CA$0 in 1Q 2024). Revenue: CA$21.2m (up 1.4% from 1Q 2024). Net loss: CA$1.90m (down CA$2.06m from profit in 1Q 2024). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 22
Decibel Cannabis Company Inc. Announces Earnings Guidance for the Full Year 2025 Decibel Cannabis Company Inc. announced earnings guidance for the full year 2025. For the year,the company expects Net Revenue of $130 million driven by continued international growth. Announcement • Apr 23
Decibel Cannabis Company Inc. Reiterates Earnings Guidance for the Full Year 2025 Decibel Cannabis Company Inc. reiterated earnings guidance for the full year 2025. For the period, the company expects Net Revenue of $130 million driven by continued international growth. Reported Earnings • Apr 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CA$0.032 (up from CA$0.004 loss in FY 2023). Revenue: CA$92.5m (down 20% from FY 2023). Net income: CA$13.6m (up CA$15.4m from FY 2023). Profit margin: 15% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Price Target Changed • Jan 19
Price target decreased by 16% to CA$0.27 Down from CA$0.32, the current price target is an average from 3 analysts. New target price is 281% above last closing price of CA$0.07. Stock is down 46% over the past year. The company is forecast to post earnings per share of CA$0.005 next year compared to a net loss per share of CA$0.0043 last year. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (CA$46.1m market cap, or US$32.2m). Board Change • Jan 02
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Nadia Vattovaz is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Dec 17
Price target decreased by 16% to CA$0.27 Down from CA$0.32, the current price target is an average from 3 analysts. New target price is 281% above last closing price of CA$0.07. Stock is down 46% over the past year. The company is forecast to post earnings per share of CA$0.005 next year compared to a net loss per share of CA$0.0043 last year. Announcement • Dec 11
Decibel Cannabis Company Inc. Announces Committee Changes Decibel Cannabis Company Inc. announced that at the annual and special meeting of shareholders held on December 10, 2024 Subsequent to the Meeting, Shawn Dym, Nadia Vattovaz and Jakob Ripshtein have been appointed and agreed to serve on the Corporation's committees, with Ms. Vattovaz to serve as chair of the Company's Audit Committee, and Mr. Ripshtein to serve as chair of its Governance, Compensation and Nominating Committee. Announcement • Nov 25
Decibel Cannabis Company Inc. announced that it has received CAD 3.189099 million in funding On November 25, 2024, Decibel Cannabis Company Inc. closed the transaction. The company issued 19,647,776 Common Shares in the capital of the Company at an issue price of CAD 0.06 per share for the gross proceeds of up to CAD 1,178,867 in its final tranche. No finders' fees were paid in connection with either the first or second closing of the Offering. The Offering is subject to the receipt of all regulatory approvals including the final approval of the TSX Venture Exchange. Certain directors and officers of the Company subscribed for an aggregate of 19,460,061 Common shares in the first and second closings of the Offering. Reported Earnings • Nov 22
Third quarter 2024 earnings released: CA$0.001 loss per share (vs CA$0.001 profit in 3Q 2023) Third quarter 2024 results: CA$0.001 loss per share (down from CA$0.001 profit in 3Q 2023). Revenue: CA$24.1m (down 20% from 3Q 2023). Net loss: CA$531.0k (down 229% from profit in 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Nov 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Shareholders have been diluted in the past year (8.2% increase in shares outstanding). Market cap is less than US$100m (CA$31.0m market cap, or US$22.3m). Announcement • Oct 28
Decibel Cannabis Company Inc. to Report Q3, 2024 Results on Nov 21, 2024 Decibel Cannabis Company Inc. announced that they will report Q3, 2024 results on Nov 21, 2024 Announcement • Oct 14
Decibel Cannabis Company Inc., Annual General Meeting, Nov 28, 2024 Decibel Cannabis Company Inc., Annual General Meeting, Nov 28, 2024. Announcement • Sep 11
Decibel Cannabis Company Inc. Accepts the Resignation of Warren Matzelle as Chief Product Development and Marketing Officer Decibel Cannabis Company Inc. accepted the resignation of Warren Matzelle, Chief Product Development and Marketing Officer effective as of September 6th, 2024. Price Target Changed • Sep 02
Price target decreased by 14% to CA$0.32 Down from CA$0.37, the current price target is an average from 3 analysts. New target price is 387% above last closing price of CA$0.065. Stock is down 62% over the past year. The company is forecast to post earnings per share of CA$0.01 next year compared to a net loss per share of CA$0.0043 last year. New Risk • Aug 23
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$166k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (22% average weekly change). Minor Risks Significant insider selling over the past 3 months (CA$166k sold). Market cap is less than US$100m (CA$30.7m market cap, or US$22.7m). Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: CA$0 (vs CA$0.001 loss in 2Q 2023) Second quarter 2024 results: EPS: CA$0 (improved from CA$0.001 loss in 2Q 2023). Revenue: CA$22.2m (down 28% from 2Q 2023). Net income: CA$59.0k (up CA$482.0k from 2Q 2023). Profit margin: 0.3% (up from net loss in 2Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. New Risk • Aug 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Market cap is less than US$100m (CA$20.5m market cap, or US$14.9m). Price Target Changed • Jul 07
Price target decreased by 12% to CA$0.34 Down from CA$0.38, the current price target is an average from 4 analysts. New target price is 463% above last closing price of CA$0.06. Stock is down 54% over the past year. The company is forecast to post earnings per share of CA$0.02 next year compared to a net loss per share of CA$0.0043 last year. Reported Earnings • May 30
First quarter 2024 earnings released: EPS: CA$0 (vs CA$0.001 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0 (improved from CA$0.001 loss in 1Q 2023). Revenue: CA$21.0m (down 23% from 1Q 2023). Net income: CA$156.0k (up CA$725.0k from 1Q 2023). Profit margin: 0.7% (up from net loss in 1Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$38.9m market cap, or US$28.4m). Price Target Changed • May 01
Price target decreased by 7.4% to CA$0.42 Down from CA$0.45, the current price target is an average from 3 analysts. New target price is 233% above last closing price of CA$0.13. Stock is down 3.8% over the past year. The company is forecast to post earnings per share of CA$0.04 next year compared to a net loss per share of CA$0.0043 last year. Reported Earnings • Apr 30
Full year 2023 earnings released: CA$0.004 loss per share (vs CA$0.011 loss in FY 2022) Full year 2023 results: CA$0.004 loss per share (improved from CA$0.011 loss in FY 2022). Revenue: CA$116.0m (up 46% from FY 2022). Net loss: CA$1.77m (loss narrowed 60% from FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Apr 11
Fire & Flower Inc completed the acquisition of brick and mortar retail cannabis operations of Decibel Cannabis Company Inc.(TSXV:DB). Fire & Flower Inc entered into a binding agreement to acquire brick and mortar retail cannabis operations of Decibel Cannabis Company Inc.(TSXV:DB) for CAD 3 million on March 22, 2024. The transaction is subjected to customary closing conditions and expected to close before the end of Q1 2024.Fire & Flower Inc completed the acquisition of brick and mortar retail cannabis operations of Decibel Cannabis Company Inc.(TSXV:DB) on April 10, 2024. Announcement • Apr 09
Decibel Cannabis Company Inc. Appoints Benjamin Sze as Chief Executive Officer Decibel Cannabis Company Inc. announced the appointment of Benjamin Sze as its Chief Executive Officer, effective April 8, 2024. Mr. Sze's transition into the role is expected to be very familiar for both him and the Company as Mr. Sze previously served as the CEO of Decibel before resigning in late 2020 to focus on the health of his family. Former CEO Paul Wilson will be assisting Mr. Sze in handing off leadership of the Company. Announcement • Mar 26
Decibel Cannabis Company Announces Retirement of Paul Wilson as Chief Executive Officer Decibel Cannabis Company Inc. announced that Paul Wilson, the company's Chief Executive Officer has informed the Board of Directors (the "Board") of his intention to retire from the company. As a result of Mr. Wilson's retirement, the Board is preparing a transition plan, with the intention of a new Chief Executive Officer being named in the coming weeks. Announcement • Mar 24
Fire & Flower Inc entered into a binding agreement to acquire brick and mortar retail cannabis operations of Decibel Cannabis Company Inc.(TSXV:DB) for CAD 3 million. Fire & Flower Inc entered into a binding agreement to acquire brick and mortar retail cannabis operations of Decibel Cannabis Company Inc.(TSXV:DB) for CAD 3 million on March 22, 2024. The transaction is subjected to customary closing conditions and expected to close before the end of Q1 2024. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: CA$0.001 (vs CA$0.013 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.001 (down from CA$0.013 in 3Q 2022). Revenue: CA$30.2m (up 65% from 3Q 2022). Net income: CA$413.0k (down 92% from 3Q 2022). Profit margin: 1.4% (down from 28% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Oct 05
Decibel Cannabis Company Inc. Launches General Admission Blinker Closed Loop Vape System Decibel Cannabis Company Inc. announced the launch of General Admission 'Blinker' closed loop vape system of products. These products are expected to be available to order for licensed retailers in British Columbia the week of October 16th, in Ontario on October 19th, in Saskatchewan the week of October 23rd, in Alberta on November 3rd and in Manitoba by mid-November. The initial products expected to be launched for the General Admission Blinker system are: Tiger Blood 0.95g vape pod, Peach Rizz 0.95g vape pod, 5 Loco 0.95g vape pod, Essentials Mixer Pack 4x0.28 vape pods, Social Sampler Pack 4x0.28g vape pods, Blinker Vape Battery. Key Highlights of the General Admission Blinker System include: Large initial assortment of flavours and SKUs which consumers have shown to love in other formats like infused pre-rolls, 510 vape cartridges and edibles, Blinker vape pods will be line priced with existing General Admission 510 vape cartridges, Blinker vape batteries will be priced in-line with standard 510 batteries, making the system comparable in cost to the 510 system for consumers, Smart pod technology reduces common vape issues like, clogging and leaking, with best-in-class airflow, vapour production and flavour. Announcement • Oct 01
Decibel Cannabis Company Inc. Announces Resignation of Paul Wilson as Director Decibel Cannabis Company Inc. announced that it has accepted the resignation of Paul Wilson in respect of his position as a director of the Company. At the Company's July 5, 2023 annual general meeting, Mr. Wilson did not receive a majority of votes for his election as a director and, in accordance with the Company's Majority Voting Policy, Mr. Wilson tendered his conditional resignation as a director of the Company. After careful consideration, the Board of Directors of the Company has decided to accept such resignation. Recent Insider Transactions • Aug 25
Independent Chairman of the Board recently bought CA$119k worth of stock On the 21st of August, Shawn Dym bought around 815k shares on-market at roughly CA$0.15 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Shawn has been a buyer over the last 12 months, purchasing a net total of CA$456k worth in shares. New Risk • Aug 19
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (CA$57.2m market cap, or US$42.2m). Reported Earnings • Aug 18
Second quarter 2023 earnings released: CA$0.001 loss per share (vs CA$0.005 loss in 2Q 2022) Second quarter 2023 results: CA$0.001 loss per share (improved from CA$0.005 loss in 2Q 2022). Revenue: CA$30.9m (up 67% from 2Q 2022). Net loss: CA$423.0k (loss narrowed 80% from 2Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jul 06
Decibel Cannabis Company Inc. Launches General Admission Edibles Decibel Cannabis Company Inc. announced the launch of General Admission edibles that are expected to be available to order for licensed retailers in British Columbia the week of July 3rd, in Alberta on July 7th, in Saskatchewan the week of July 24th and in Ontario in August. Tiger Blood 2 Pack Soft Chews - 10mg of THC per pack. Blue Rocket 2 Pack Soft Chews- 10mg of THC per pack; Pomegranate Dragon Fruit 2 Pack Soft Chews -10mg of THC & 5mg of CBN per pack; Pineapple Guava 2 Pack Soft Chews - 9mg of THC & 10mg CBD per pack. In addition to the launch of edibles, Decibel has launched a brand-new website for General Admission. The website, serves as a hub of information, allowing consumers to explore the full range of products, learn about the latest releases, and stay in-touch with the brand. Recent Insider Transactions • Jun 16
Chairman of the Board recently bought CA$2.4m worth of stock On the 12th of June, Shawn Dym bought around 188k shares on-market at roughly CA$12.97 per share. This transaction amounted to 8.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Shawn has been a buyer over the last 12 months, purchasing a net total of CA$2.7m worth in shares. Reported Earnings • May 31
First quarter 2023 earnings released: CA$0.001 loss per share (vs CA$0.011 loss in 1Q 2022) First quarter 2023 results: CA$0.001 loss per share (improved from CA$0.011 loss in 1Q 2022). Revenue: CA$27.1m (up 63% from 1Q 2022). Net loss: CA$569.0k (loss narrowed 87% from 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: CA$0.011 loss per share (down from CA$0.005 profit in FY 2021). Revenue: CA$79.3m (up 51% from FY 2021). Net loss: CA$4.46m (down 356% from profit in FY 2021). Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jan 13
Chairman of the Board recently bought CA$53k worth of stock On the 6th of January, Shawn Dym bought around 500k shares on-market at roughly CA$0.10 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Shawn has been a buyer over the last 12 months, purchasing a net total of CA$166k worth in shares. Recent Insider Transactions • Dec 26
Chairman of the Board recently bought CA$51k worth of stock On the 22nd of December, Shawn Dym bought around 537k shares on-market at roughly CA$0.095 per share. This transaction increased Shawn's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Shawn has been a buyer over the last 12 months, purchasing a net total of CA$94k worth in shares. Announcement • Dec 13
Decibel Cannabis Company Inc. Announces Board Changes Decibel Cannabis Company Inc. announced that at its AGM held on December 9, 2022, Shawn Dym has been appointed and agreed to serve as the company's Chairman, and each of Nadia Vattovaz and Jakob Ripshtein have been appointed and agreed to serve, respectively, as chair of the company's Audit Committee and of its Governance, Compensation and Nominating Committee. Board Change • Nov 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Ivan Casselman was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: CA$0.013 (vs CA$0.003 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.013 (up from CA$0.003 loss in 3Q 2021). Revenue: CA$18.3m (up 37% from 3Q 2021). Net income: CA$5.17m (up CA$6.08m from 3Q 2021). Profit margin: 28% (up from net loss in 3Q 2021). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Pharmaceuticals industry in Canada. Announcement • Oct 14
Decibel Cannabis Company Inc., Annual General Meeting, Dec 09, 2022 Decibel Cannabis Company Inc., Annual General Meeting, Dec 09, 2022. Reported Earnings • Aug 18
Second quarter 2022 earnings released: CA$0.005 loss per share (vs CA$0.002 loss in 2Q 2021) Second quarter 2022 results: CA$0.005 loss per share (down from CA$0.002 loss in 2Q 2021). Revenue: CA$18.6m (up 49% from 2Q 2021). Net loss: CA$2.11m (loss widened 241% from 2Q 2021). Over the next year, revenue is forecast to grow 44%, compared to a 24% growth forecast for the Pharmaceuticals industry in Canada. Board Change • Aug 12
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Chairman Cody Church is the most experienced director on the board, commencing their role in 2019. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Jul 01
Decibel Cannabis Company Inc., Annual General Meeting, Sep 01, 2022 Decibel Cannabis Company Inc., Annual General Meeting, Sep 01, 2022. Reported Earnings • May 26
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: CA$0.011 loss per share (down from CA$0.008 profit in 1Q 2021). Revenue: CA$16.7m (up 32% from 1Q 2021). Net loss: CA$4.37m (down 267% from profit in 1Q 2021). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 49%, compared to a 86% growth forecast for the industry in Canada. Announcement • May 20
Decibel Cannabis Company Inc. to Report Q1, 2022 Results on May 25, 2022 Decibel Cannabis Company Inc. announced that they will report Q1, 2022 results Pre-Market on May 25, 2022 Reported Earnings • Apr 27
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CA$0.005 (up from CA$0.026 loss in FY 2020). Revenue: CA$52.5m (up 75% from FY 2020). Net income: CA$1.74m (up CA$11.0m from FY 2020). Profit margin: 3.3% (up from net loss in FY 2020). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 47%, compared to a 102% growth forecast for the pharmaceuticals industry in Canada. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Chairman Cody Church is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 23
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CA$0.005 (up from CA$0.026 loss in FY 2020). Revenue: CA$52.5m (up 75% from FY 2020). Net income: CA$1.74m (up CA$11.0m from FY 2020). Profit margin: 3.3% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 47%, compared to a 107% growth forecast for the pharmaceuticals industry in Canada. Announcement • Apr 09
Decibel Cannabis Company Inc. to Report Q4, 2021 Results on Apr 22, 2022 Decibel Cannabis Company Inc. announced that they will report Q4, 2021 results Pre-Market on Apr 22, 2022 Announcement • Feb 01
Decibel Cannabis Company Inc. Provides Earning Guidance for 2022 Decibel Cannabis Company Inc. provided earning guidance for 2022. for the year, the company expected Driving high double digit revenue growth through broader distribution and a new, unique, and innovative product pipeline.