Zoned Properties Q3 Revenue Grows 59% YoY, Here Are The Details

Zoned Properties, Inc. ZDPY Q3 2022 revenues were $614,988, an increase of 58.8% compared to $387,365 in Q3 2021. Net loss was $77,328 compared to a net loss of $95,495 in Q3 2021.

Nine Months Ended September 30, 2022 Financial Results

• Revenues were $2 million for the nine months ended September 30, 2022, compared to $1.3 million for the nine months ended September 30, 2021, an increase of 59.9%.

• The company reported a net loss of $142,087 for the nine months ended September 30, 2022, as compared to a net loss of $54,236 for the nine months ended September 30, 2021.

• The company had cash of $842,115 as of September 30, 2022, compared to $1.2 million as of December 31, 2021, a decrease of $349,825 primarily reflecting a $50,000 investment in equity securities, the payment of deferred offering costs associated with our debt facility of $176,472, the repayment of notes payable of $20,000, and a lease incentive payment to our tenant of $500,000, offset by cash provided by operations of $398,311.

• The company reported net cash provided by operating activities of $398,311 for the nine months ended September 30, 2022.

"The Zoned Properties pipeline and capital engine has been turned on. As our team executes on expanding the company's national services and securing new property investments and acquisitions, we believe Zoned Properties will see a material increase in shareholder value as a result of the continued fueling of our pipeline and capital engine," stated Bryan McLaren, CEO of Zoned Properties.

"Over the past few years we have focused heavily on building a strong foundation of real estate services. This is absolutely essential to fuel a strong pipeline of property investment and acquisition targets. In a heavily regulated space with extreme complexity, it is vital that any property investment team maintains a direct connection to marketplace activity. We believe Zoned Properties is extremely well positioned to begin aggressively pursuing market share and to deploy capital into attractive real estate investment and acquisition targets."

Get your daily dose of cannabis news on Benzinga Cannabis. Don’t miss out on any important developments in the industry.

Photo by Mackenzie Marco on Unsplash

Related News

Greenlane & Other Marijuana Operators Just Made Some Key Executive Changes You Need To Know About

Unrivaled Brands & Other Cannabis Operators Just Made Some Key Executive Changes You Should Know About

Lev Secures $41.5M In Cannabis CRE Financing Breaking Down Barriers To Federal Loans