Cannabis Earnings

Colorado Cannabis Company: Q1 Revenue Skyrockets 293% YoY To $1.1M Amid German Market Focus, Eyeing European Expansion
Pot-Focused Finance Company Reports Higher Investment Income, Projects 'Increase In Cannabis Capital Markets Activity' Following DEA Rescheduling
This Cannabis Co. Expects Significant Growth Once Ohio's Retail Market Launches, Reports Slight YoY Decrease In 2023 Revenue
Pot-Focused Finance Company Reports Higher Investment Income, Projects 'Increase In Cannabis Capital Markets Activity' Following DEA Rescheduling
This Cannabis Co. Expects Significant Growth Once Ohio's Retail Market Launches, Reports Slight YoY Decrease In 2023 Revenue
Leafly Q1 Revenue Dips Nearly 20% YoY, But Weed Discovery Marketplace Also Reduced Net Loss And Cut Costs
Cannabis REIT NewLake's Q1 2024 Revenue Grows 10.4% Hitting $12.6M, CEO Is Optimistic About Possible Marijuana Rescheduling

Cannabis Earnings Recent News

Medical Marijuana Giant Trulieve, Backer Of Florida's Recreational Cannabis Ballot, Narrows Loss, Reports Uptick In Q1 Revenue, Gross Profit
Trulieve Cannabis Corp. announced on Thursday its first quarter results for the three months ended March 31, 2024. The Tallahassee, Florida-based medical cannabis giant reported revenue of $298 million for the first quarter of fiscal 2024, representing an increase of 4% sequentially and year-over-year, with 96% of revenue from retail sales.
C21 Reports Slight YoY Increase In Q4 Same Store Cannabis Sales As It Prepares To Wrap Up Acquisition of Deep Roots Harvests
Vertically integrated cannabis company C21 Investments Inc. reported on Tuesday its unaudited financial results for the fiscal year ended Jan. 31, 2024.The company reported a slight increase in same-store sales over the previous fourth quarter, despite a decline of 12% in Nevada sales over the same period. CEO and President Sonny Newman called it "a testament to our strong brand and loyal customer base that has consistently generated 500,000 customer transactions annually."  
CBD-Focused Charlotte's Web Revenue Drops 29% In Q1 Amid Strategic Adjustments
Charlotte's Web reports a 29% revenue decline in Q1 2024, faces net loss, and plans strategic adjustments to boost operational efficiency.
IM Cannabis Doubles Down On Germany Following Legalization Policy Change, Reports YoY Drop In Q1 Gross Profit And Revenue
IM Cannabis reported a 13% sequential increase in revenue for the three months ended March 31, 2024, hitting CA$10.7 million ($7.8 million). That is, however, a 4% decrease compared to the same quarter of last year.Oren Shuster, the company's CEO, said IM Cannabis will double down on Germany, now that recent approvals from both the German Bundesrat and Bundestag legalized the possession of marijuana.
Goodness Growth Reports 16% YoY Revenue Growth In Q1, Progress Regarding New York Exit
Ascend Wellness Reports 5th Consecutive Quarter Of Positive Cash Flow While Net Debt Remains Around $238M
Zig-Zag Rolling Paper Sales Made 48% Of Total Turning Point Brands Sales In First Quarter
Marijuana Ancillary Company Urban-Gro Quarterly Revenue Drops YoY, Improves Net Loss
CBD of Denver Reports YoY Increase In 2023 Gross Profit, Reduces Loss As It Continues To Expand Internationally
CBD of Denver, Inc. has filed its financial results for the year ended Dec. 31, 2023.The Colorado-based cannabis company said total current assets increased to $117,218 in 2023, up from $28,043 in 2022. Gross profit for the year totaled $595,417, representing a significant recovery from a gross loss of $284,734 in the prior year, due to a 27% increase in sales and a reduction in cost of goods sold. Net income before provision for income tax showed improvement with a loss of $377,729 in 2023, compared to a loss of $3,257,710 in 2022. CBD of Denver attributed it to the company's efforts to enhance operational efficiency and improve cost management.
Cannara Biotech Reports 51% YoY Revenue Increase In Q2, Wider Net Loss
Cannara Biotech Inc. announced on Monday its fiscal second quarter 2024 financial and operating results for the three and six-month periods ended Feb. 29, 2024. The company reported a 68% year-over-year increase in revenues for the first half of fiscal 2024, a metrics CFO Nicholas Sosiak called "a testament to our growing influence in the Quebec, Ontario, Alberta, and BC markets." "Our proactive steps towards streamlining assets align with our ambition to fortify our financial foundation as we relentlessly stay focused on gaining market share and becoming the leader in Canada, the second-largest cannabis market in the world," Sosiak said. "As for our long-term vision, we do see our future extend beyond our borders where Cannara is a globally recognized brand synonymous with excellence and value in cannabis."
Cannabis Co. Entourage Health Reports 126% YoY Increase In 2023 Gross Profit, Cuts Losses Significantly
Canadian cannabis producer and distributor Entourage Health Corp., announced on Tuesday its financial results for the fiscal year that ended Dec. 31, 2023. The Toronto-based company reported a total net revenue of CA$40.7 million ($29.8 million) in 2023, slightly down from CA$40.9 million in 2022. However, gross profit before fair value changes reached CA$2.4 million in the same period, representing a 126% year-over-year increase. "In 2023, Entourage made significant strides, advancing production and diversifying our market presence with innovative products," George Scorsis, CEO and executive chair, said. "Dime Bag's success is a prime example—quickly rising to become one of Ontario's fastest-growing pre-roll brands and maintaining its market leadership for two consecutive quarters. Driven by surging demand for our products and the effectiveness of our enhanced business model, we're achieving growth while improving cost efficiency, firmly establishing ourselves in a favorable financial position."
Cansortium Revenue Grows In 2023 Thanks To Florida, Net Loss Declines
New York-Based Marijuana Company, Acreage, Sees YoY Revenue Decline, But Also Lower Net Loss
This Undervalued Cannabis Stock Has Another Year Of Growth: Reports Record 2023 Revenue And Adjusted EBITDA
Decibel Cannabis Company reported on Monday its audited financial results for the three and twelve month periods ending Dec. 31, 2023. The Calgary, Alberta-based company said it saw a record net revenue of CA$116 million ($84.8 million) in 2023, an increase of 46% over 2022. "The Company's fourth quarter financial results delivered another year of growth across all metrics and I look forward to working with the team to continue to build on this success" Benjamin Sze, Decibel's new CEO, said. Sze was recently appointed to serve as Decibel's CEO, succeeding Paul Wilson. He rejoined the company after previously serving as CEO before resigning in late 2020 to focus on his family.
Pervasip Reports Slight YoY Decrease In Q1 Revenue As It Prepares For Cannabis Spin-Off
Pervasip announced on Tuesday its 2024 first-quarter financial results. Simultaneously, the Seattle, Washington-based company said it's still in the restructuring process and preparation for the spin-out of all of its cannabis assets. "We are entering our final phase of restructuring which involves making difficult decisions to ensure additional expense reductions and separating the company from assets it has held for many years," German Burtscher, Pervasip's president and chief executive officer, said. Additionally, as part of the restructuring, George Jordan has resigned from his duties as CFO and COO of the company and will stay on as an advisor, supporting management through its final phase of changes in preparation for the spin-out of Artizen Corporation.
4Front Ventures FY Revenue Drops 10% As Net Loss Increases, CEO Offers Optimistic Projections
California Cannabis Co. Blüm Reports 36% YoY Drop In 2023 Revenue, Narrows Net Loss By 93%
California cannabis producer Blüm Holdings Inc. announced on Tuesday financial results for the full year and fourth quarter ended Dec. 31, 2023. The company reported a 36% year-over-year drop in revenue to $33.2 million, due to a "strategic slowdown in its underperforming distribution segment." However, the company's CFO Patty Chan said the decrease in gross margin was only $0.5 million on a revenue decrease of $18.8 million. "2023 was a truly transformative year for Blüm Holdings during which the Company focused on disposing nearly all the company's underperforming assets and significantly reducing selling, general, and administrative expenses while simultaneously realigning our strategic focus to increasing our gross margin from 35% in 2022 to 53% in 2023," Chan said.
International Expansion Drives Growth For This Canadian Cannabis Producer As It Reports Record Q1 Revenue
Canadian cannabis producer Avant Brands Inc reported on Monday its financial results for the first quarter that ended Feb. 29, 2024. For the quarter, Avant Brands reported "records across key financial metrics, underscoring the company's commitment to operational excellence," according to a Monday press release. International sales hit a record of CA$3.3 million, representing a 21% year-over-year increase, with sales accounting for 37% of total gross revenue. The company attributed the growth to its aggressive market penetration in "key regions," including Australia, Germany and Israel.
Cannabis Giant Tilray Reports 30% YoY Increase In Q3 Net Revenue, Updates FY 2024 Guidance
Tilray Brands reported on Tuesday financial results for its third quarter ended Feb. 29, 2024, revealing $188.3 million in net revenue, representing a 30% year-over-year increase. The Canadian medical cannabis company said beverage-alcohol net revenue increased 165% over the same period to $54.7 million. Global cannabis net revenue was up 33% year-over-year reaching $63.4 million, with international cannabis growth of 44% over the prior year quarter. "We made several notable achievements during the third quarter, including growing revenue across our core business segments, increasing our adjusted gross profit, reducing our convertible debt balance, progressing the integration of our recently acquired craft beverage brands, realizing operating synergies in integrating our HEXO acquisition, completing our Canadian and international cannabis cost reduction plans, and strengthening our balance sheet," Irwin D. Simon, the company's chairman and CEO, said.
Israeli 'Cannabis Sticks' Maker Reports Financial Results For 2023 Following Reverse Takeover
Israeli technology and cannabinoid company StickIt Technologies announced on Monday its financial results for the year ended Dec. 31, 2023. Revenue for the fiscal 2023 amounted to CA$203 000 ($149,300), compared to CA$564 000, in the prior year. The company called 2023 a "notable year" following the "completion of a reverse takeover on Oct. 23, 2023, positioning StickIt for accelerated growth and market expansion." Simultaneously the company completed a financing of CA$441,000, consisting of 1,024,628 subscription receipts for CA$0.4304 each, which were converted on a 1:1 basis into the company's common shares.StickIt, the developer exclusivity and patent protected of "Cannabis Sticks," debuted on the Canadian Securities Exchange (CSE), in the same month.
Female-Led California Weed Co. Gold Flora's Net Loss Grows In Q4, Reports YoY Increase In Revenue & Gross Profit
Vertically-integrated California cannabis company Gold Flora Corporation announced on Friday its financial results for the three-month and twelve-month period ended Dec. 31, 2023. "We have strategically built a solid foundation consisting of premier indoor cultivation, and full vertical operations with deep consumer insights that have enabled our business to continue to expand its leadership position in California," Laurie Holcomb, CEO of Gold Flora, said. "This platform, combined with our focus on high-quality, profitable revenue streams has allowed us to capture more margin across every step of the supply chain and, as a result, we achieved positive adjusted EBITDA in the quarter, and improved our adjusted gross margin to approximately 66%, ahead of some of the leading multi-state operators in the industry.
Lifeist Reports Highest Quarterly Gross Profit In History, Continues To Diversify Its Wellness Business
Lifeist Wellness Inc. reported on Monday its financial results for the three and 12 months ended Nov. 30, 2023. The Toronto-based company said it achieved the highest quarterly gross profit in the company's history in the fourth quarter totaling CA$2 million ($1.5 million), representing a gross margin of 42%, compared to CA$1.9 million, or 31% gross margin, in the corresponding quarter of 2022."Our performance in the fourth quarter of 2023 reflects our strategic focus on high-margin activities and operational efficiency, resulting in the highest quarterly gross profit in our company's history," Meni Morim, CEO of Lifeist, said. "Though accompanied by unique hurdles, our focus towards enhancing gross profit has produced promising results." The company recently announced that it has entered into a definitive share purchase agreement with 1463663 B.C. Ltd., a newly incorporated affiliate of Tierra Corp., and the company's Canadian cannabis subsidiaries, collectively referred to as the CannMart Group, to divest and sell all of the shares of the CannMart Group to the buyer for CA$5 million.
Goodness Growth Holdings Reports Q4 2023 Revenue Growth, Gross Margin And Operating Profits
Goodness Growth Holdings, Inc.,(CSE: GDNS) (OTC: GDNSF) cannabis company reported its financial results Tuesday morning for the fourth quarter and the entire fiscal year of 2023.