Village Farms International (NASDAQ:VFF) released its financial results today for the fourth quarter and full year ended December 31, 2024, showcasing robust growth and outlining ambitious plans for 2025.
The company reported an 18% year-over-year increase in full-year consolidated sales, reaching $336.2 million, driven by strong performance in its Canadian cannabis business and burgeoning international markets.
The Canadian cannabis segment was a standout, with sales surging 31% year-over-year in 2024.
Retail branded sales grew by 23%, cementing Village Farms’ position as a market leader.
The company maintained its #1 market share in dried flower, #2 in pre-rolls, and #3 overall in Canada throughout the year.
Meanwhile, fourth-quarter consolidated sales rose 11% to $82.6 million, with international sales soaring 113% year-over-year—a trend the company expects to accelerate, projecting a tripling of international sales in 2025.
Financially, Village Farms generated $10.3 million in cash flow from operations for the full year, reflecting operational resilience.
The fourth quarter saw a significant improvement in consolidated net loss, which narrowed by 66% to $8.6 million ($0.08 per share) from $25.5 million ($0.23 per share) in Q4 2023.
Looking ahead, Village Farms broke ground on its Phase II expansion in the Netherlands, a project set to quintuple its annual production capacity by the end of Q4 2025.