Financial Results

Psychedelics Co. Numinus Narrows Loss In Q3, Reports QoQ Decrease In Revenue, Gross Profit
PharmaCielo Cannabis Co. Narrows Net Loss By 31% YoY In Q1, CEO Says Cost Reduction Efforts Showing Results
Body and Mind Narrows Loss By 30% YoY In Q3, Doubles Down On Streamlining Operations
PharmaCielo Cannabis Co. Narrows Net Loss By 31% YoY In Q1, CEO Says Cost Reduction Efforts Showing Results
Body and Mind Narrows Loss By 30% YoY In Q3, Doubles Down On Streamlining Operations
Aurora Reports 20% YoY Uptick In Global Medical Marijuana, Expects Benefits From International Cannabis Regulatory Reforms
Marijuana Fintech Co. POSaBIT Reports 67% YoY Drop In Q1 Revenue, Renews Focus On Sustainable Profitability And Growth

Financial Results Recent News

Entourage Health Cannabis Reports 9% YoY Increase In Q1 Revenue, Positive EBITDA And 'Substantial Growth'
Canadian cannabis producer and distributor Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) (FSE:4WE) announced on Tuesday its first quarter financial results for the three months ended March 31, 2024. The Toronto-based company reported a total revenue of CA$16.4 million ($12 million) (net revenue of CA$12.7 million, before excise duties and discounts), representing a 9% year-over-year increase. "Entourage's first quarter results are a testament to our robust financial health and strategic approach to business operations, positioning us for success throughout 2024," George Scorsis, the company's chair and CEO, said. "With defined infrastructure and supply agreements in place, we are well-positioned to continue delivering the accelerated growth we have already seen develop in Q1."
Delta 9 Cannabis' Q1 Revenue Drops Slightly YoY, Gross Profit Grows 10%
Delta 9 Cannabis Inc. announced on Wednesday financial and operating results for the three months ending March 31, 2024."During the first quarter, we continued to focus on sustaining revenues across our core business units while optimizing our margins," John Arbuthnot, CEO of Delta 9, said. "We will continue our relentless focus on cost and operational efficiencies and strengthening our balance sheet to deliver sustained, profitable growth for our shareholders
California Cannabis Co. Gold Flora Reports 150% YoY Increase In Q1 Gross Profit, Trims Loss Sequentially
California cannabis company Gold Flora Corporation (Cboe Canada: GRAM) announced on Wednesday its first quarter financial results for the three months ended March 31, 2024. "Our Q1 2024 results reflect the work we have done to scale our operations to leverage the solid foundation we have built and realize the significant benefits of our vertical integration," Laurie Holcomb, the company's CEO, said.Gold Flora significantly expanded its cultivation operations with the introduction of the Gramlin brand. The expansion increased the canopy space to 107k square feet, a more than double increment from the previous year. The launch of Gramlin, targeting high-volume consumers with affordable pricing and trendy packaging, aims to elevate sales of in-house products from 22% to 30%, as Benzinga's Nicolás Jose Rodriguez highlighted in his recent recap of cannabis analysts' reports.
AYR Wellness Improves Financial Position YoY, Q1 Revenue And Gross Profit In Anticipation Of OH, FL And PA Cannabis Market Launches
Cannabis multi-state operator AYR Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF) reported on Wednesday the first quarter financial results for the three months ended March 31, 2024."2024 continues to be about execution for AYR, furthering the progress we made in 2023 by focusing on improving product quality and consistency, building a loyal retail customer base, rebuilding our CPG brand platform, and continuing to prioritize cost controls," David Goubert, president & CEO of AYR, said.
Cannabis Company iAnthus Trims Net Loss In Q1, Reports YoY Increase In Revenue, Gross Profit
iAnthus Capital Holdings reported on Tuesday its financial results for the first quarter ended March 31, 2024.Revenue totaled $41.6 million, representing a sequential increase of 1.7% from the prior period and an increase of 13.1% year-over-year.Net loss totaled $14 million, or a net loss of less than $0.01 per share, compared to a net loss of $18.7 million, or a net loss of less than $0.01 per share in the prior quarter, and compared to a net loss of $18.6 million, or a net loss of $0.01 per share, in the prior year's period.
Ancillary Cannabis Co. Hydrofarm Reports YoY Drop In Q1 Sales, Gross Profit While Narrowing Loss, Expects To Cash In On Marijuana Rescheduling
Hydrofarm Holdings Group, Inc., a cannabis-focused manufacturer and distributor of branded hydroponics equipment and supplies for controlled environment agriculture, announced on Tuesday financial results for its first quarter ended March 31, 2024."We are pleased with our first quarter results, as we delivered adjusted gross profit margin expansion for the fifth consecutive quarter driven by elevated operational productivity," Bill Toler, chairman and CEO of Hydrofarm, said.
This Cannabis Co. Expects Significant Growth Once Ohio's Retail Market Launches, Reports Slight YoY Decrease In 2023 Revenue
Vext Science, Inc., which runs vertical cannabis operations in Arizona and Ohio, reported on Friday its financial results for the period ended Dec. 31, 2023. Revenue for 2023 slightly dropped year-over-year to $34.8 million from $35.4 million in 2022. Fourth quarter revenue grew year-year to $8.4 million, from $8.1 million in the prior year's quarter.
SNDL Cannabis Co. Wraps Up Q1 With No Outstanding Debt As It Works On Expanding In US
SNDL Inc. reported on Thursday its financial and operational results for the first quarter ended March 31, 2024.The company reported a total net revenue of CA$197.7 million, up from CA$191 million in the prior year's period. Out of that sum cannabis retail revenue amounted to CA$71.3 million, while cannabis operations totaled CA$22.4 million.SNDL attributed the increase to the cannabis retail and cannabis operations segments, as the liquor retail segment reported flat net revenue.
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."  
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.
Village Farms Reports Record Q1 Canadian Cannabis Sales Following 49% YoY Increase, Continues To Strengthen International Presence
Village Farms reported on Wednesday its financial results for the first quarter ended March 31, 2024, revealing a new record with Canadian cannabis sales increasing 49% year-over-year to $37.4 million."The first quarter was an especially strong start to 2024," Michael DeGiglio, president and CEO of the company, said. "Our success in quality, innovation and brand building, together with the support of our provincial boards and retail partners, are driving these results as we delight our consumers."
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.
Revenue Growth And Cannabis Market Expansion: RIV Capital's Fiscal Highlights For 2023
Numinus Wellness Q2 2024 Revenue Declines Amid Clinic Reshuffling And Expected Industry Trends
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 CPG Co. SLANG Worldwide Narrows Q4 Loss By 56% YoY, Reports Dip In Revenue
SLANG Worldwide Inc. announced on Friday financial results for the three and twelve months ended Dec. 31, 2023, revealing a double-digit decrease in both the fourth quarter and full year 2023 loss. "In 2023, we took a deliberate approach to advancing our strategy of profitable growth, creating a leaner, more nimble SLANG. As a result, we ended the year with increased gross profit, higher margins, and lower operating expenses which resulted in significantly lower total comprehensive loss and lower adjusted EBITDA loss, John Moynan, the company's CEO, said. "With the fourth quarter historically our seasonally lowest revenue quarter, we took the opportunity to further fortify our business and refine our product offering, which will help us make meaningful progress on the path to profitability."
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.
Cannabinoid-Based Products Maker Sees Triple-Digit Growth In 2023 Gross Profit, Revenue Surges 314% YoY
Cannabinoids-focused biopharmaceutical company Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) reported on Tuesday year-end 2023 results and audited financial statements. The Canadian company reported CA$16.8 million ($12.3 million) in total revenue, up by 314% year-over-year. Avicanna mostly attributed a surge in revenue to the acquisition of Medical Cannabis by Shoppers from Shoppers Drug Mart and the launch of MyMedi.ca. "2023 was a tremendous year for Avicanna where we solidified our leadership position in the Canadian medical cannabis sector through our proprietary products and the launch of MyMedi.ca," he said. "We have successfully demonstrated the scalability of our revenues and made significant improvements in our fundamentals while advancing all our business pillars."
Atai Life Sciences Q4 And Full-Year 2023 Results: Steep Cash Drain Yet 2026 Target Remains, Update On Psychedelic Pipeline
Hemp-Focused Wellness Co. Moves Closer To Profitability, Reports Flat 2023 Revenue, Increase In Gross Profit
Hemp-focused consumer wellness company CV Sciences, Inc. (OTCQB: CVSI) announced on Thursday its financial results for the year ended Dec. 31, 2023. The San Diego-based company reported a gross margin of 44.3% for fiscal year 2023, representing an improvement from 34.2% for 2022. For the fourth quarter gross margin was 45.8%, representing a sequential improvement from 45.1% in the third quarter. "Our 2023 progress demonstrates our continuous commitment to innovation and cost-efficient execution as we move closer to profitability and positive cash flow," Joseph Dowling, CEO of CV Sciences, said. "As the CBD category consolidates, we have increased our market share in key sales channels, including the natural product retail channel. We will continue to focus our resources on new product development, as evidenced by our pet line expansion with our recent launch of pet chews for hip and joint health and calming care."
IM Cannabis' Q4 Revenue: Gross Profit Drops Due To Negative Impact Of Israel-Hamas War, Sees Germany As Growth Opportunity
IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC) announced on Thursday its financial and operational results for the year ended Dec. 2023. The Toronto-headquartered medical cannabis company with a focus on Israel and Germany reported a 10% year-over-year decrease in revenue to CA$48.8 million ($36 million) in 2023. IM Cannabis attributed it to "negative currency fluctuations and the impact of the Israel-Hamas war on the company's operations." Fourth quarter revenue dropped 26% year-over-year to CA$10.7 million. "As previously warned and as expected, unfortunately, the Israel-Hamas war had a negative impact on our fourth quarter 2023 results, which weighed on our full-year results.," Uri Birenberg, chief financial officer of IMC, said. "Coupled with our fourth quarter of 2023 inventory reduction, the war caused our fourth quarter gross profit to decrease by 68% as compared to the fourth quarter of 2022."