Cronos Australia recorded annual cash receipts from customers of A$70 million in FY22 representing year-on-year growth of 245%.
The company reported total cash receipts of $23 million in Q4 FY22, another record quarter.
Cronos merged with CDA Health in December 2021, bringing with it the CanView platform, through which 486,000 products were sold in FY22, up 270% year on year. It said almost half of all pharmacies in Australia now have CanView accounts.
Net cash increased to more than $16m on the back of net positive operating cashflows of $13m.
CEO Rodney Cocks said CanView was “key to these results”, calling it “the sales and distribution partner of choice for leading Australian medicinal cannabis suppliers”.
He added: “Having now established nationwide coverage of pharmacies, we look to execute the next phase of our growth strategy with our national medical science liaison team targeting further subscribers across the country.”
Cocks said the firm’s healthy cash balance would allow it to consider “synergistic acquisitions” as well as investing in organic growth.
Shares surged by 45% to 32 cents following the results announcement and are currently trading at 30 cents.