Irwin Naturals posts $89.5 million revenue in 2022

Irwin Naturals Inc. IWINF IWIN FRA: 97 X revenue in 2022 was $89.5 million, down 10 percent from $100.3 million in 2021.

The year ended with $800,000 in cash.

In the fourth quarter of 2022, Sean Sand, CFO, said, we made further progress in meeting our expansion efforts into the high-growth cannabis and psychedelics sectors. We have made the necessary investments in our operations to drive sustained long-term growth by entering into several new licensing agreements to distribute Irwin Naturals branded cannabis products and expanded our mental health clinics footprint in Florida through an acquisition. In Q4, we still invested in our Emergence clinics and cannabis business lines, said CEO Klee Irwin. Our investment in Emergence now includes eight acquisitions, including 13 clinics, and one advertising platform. In phase two, we plan to become the world's largest chain of dedicated psychedelic mental health clinics through organic growth and development, and are currently considering options for the first Emergence branded clinic in the United States. Furthermore, we anticipate seeing considerable growth coming from our Cannabis business line with the first revenues from our licensing deals to occur in Q2 2023, which now sees us in seven states and in Canada. The company also announced the hiring of Sheri Orlowitz, a new director of the company, as of May 12th, 2023, to fill the vacancy left by the resignation of Bismuth earlier this month.

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