Canadian cannabis edibles producer Indiva Limited (TSXV:NDVA) (OTC:NDVAF) announced on Thursday its financial and operating results for the fourth quarter and fiscal year ended Dec. 31, 2023. The company reported a 53.3% increase year-over-year increase in gross profit before inventory write-down to CA$4.2 million (roughly $3 million) for the fourth quarter. Gross margin before inventory write-down improved to a record 38.5% of net revenue, versus 37.1% in the prior quarter and 29.3% in the prior year's period. Indiva attributed the improvement in gross margin percentage year over year to higher sales, improved operating efficiencies and a positive mix shift toward higher-margin products. "We are very pleased with our performance in the fourth quarter and fiscal year 2023, generating record net revenue, improved gross margins as well as record positive EBITDA and income from operations," Niel Marotta, president and CEO of Indiva said. Q4 2023 Financial Highlights Net revenue was a record CA$10.9 million, representing an 11% sequential increase, and a 16.8% increase year-over-year, driven primarily by strength in core brands, including Pearls by Grön, where net revenue grew by greater than 360% year-over-year, as well as strong contribution from No Future gummies. Net revenue from edible products was CA$9.5 million, or 87.7% of net revenue, up ...