Second Quarter Earnings

Canopy Growth: Q2 Net Revenue Drops 9% YoY, Projects Positive Earnings Ahead
Irish Biotech Firm GH Research Sees Cash Decline in Q2, Advances Psychedelic Drug Trials
Entourage Cannabis Co.'s Q2 Revenue Drops Nearly 9% YoY, CEO 'Optimistic' About Future Opportunities
Irish Biotech Firm GH Research Sees Cash Decline in Q2, Advances Psychedelic Drug Trials
Entourage Cannabis Co.'s Q2 Revenue Drops Nearly 9% YoY, CEO 'Optimistic' About Future Opportunities
Vext Cannabis Co.'s Q2 Revenue Drops Over 8% YoY, But Top Cannabis Analyst Sees Ohio Market As Major Growth Driver
Blüm Cannabis Co. Reports 111% Increase In Q2 Revenue Following 'Transformative' Sale Of Santa Ana Dispensary

Second Quarter Earnings Recent News

Decibel Cannabis Reports 22% YoY Decrease In Q2 Net Revenue, Plans To Benefit With New Product Launches
Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF) reported on Wednesday its unaudited interim financial results for the second quarter ending June 30, 2024. "Decibel has shown good discipline in reducing our current liabilities by ~5mm this quarter," Benjamin Sze, Decibel's CEO, said. "Market share has been challenged but early indications from Qwest relaunch suggest we will regain market share in flower.  A continued focus on execution and capital efficiency will serve as the platform for future growth." The company reported net revenue of CA$22.1 million ($16.1 million), down from CA$28.5 million in the prior year's period, representing a 22% year-over-year drop. Its first quarter report published this past April revealed a 16% year-over-year revenue drop to CA$21 million and an adjusted net loss of CA$3.5 million.
IM Cannabis Soars: German Sales Surge 200% In First 3 Months Post-Legalization, Q2 Revenue Up 12% YoY
The company, announced its financial results Wednesday for the second quarter ended June 30, 2024, revealing a 12% year-over-year increase in revenue to CA$14.8 million in the second quarter of 2023. The company also reported a 129% year-over-year increase in IMC Germany sales to CA$3.5 million, making up 24% of the entire company revenue.
MediPharm Q2 Loss Narrows, Adjusted EBITDA Climbs As Gross Profit Improves Nearly 300% YoY
Cannabinoids-focused pharmaceutical company MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) announced on Wednesday financial results for the second quarter ended June 30, 2024, revealing an 8% year-over-year and 6% sequential increase to CA$10.3 million ($7.5 million). "We are very pleased with our Q2 results, showcasing substantial improvements in both revenue and profitability," David Pidduck, the company's CEO, said. "The strategic initiatives implemented, including cost reductions and operational efficiencies, are yielding positive results. We are particularly encouraged by the continued growth in our international sales and the progress in innovation of non-combustible cannabis formats."
Hemp-Focused CV Sciences Reports Flat Revenue And Over 8% YoY Increase In Gross Profit In Q2
CV Sciences, Inc. (OTCQB: CVSI) a hemp-focused wellness company announced on Tuesday its financial results for the second quarter that ended June 30, 2024, revealing a flat revenue year-over-year at $4 million for the period. "Revenues for our core business remained stable at $4 million in the second quarter of 2024 despite a challenging environment," Joseph Dowling, CEO of CV Sciences, said. "With our recently completed acquisitions and new product innovations, we are planning to grow our revenue in the second half of 2024. Our 47.0% gross margin in the second quarter of 2024 is our best gross margin in the last 13 quarters."
Canadian Cannabis Operations Drive Growth For Village Farms In Q2, Plans To Cash In On Marijuana Program In The Netherlands
Village Farms International, Inc. (NASDAQ: VFF) today reported its financial results for the second quarter that ended June 30, 2024, revealing that total sales grew 19% year-over-year to $92.1 million for the period. The Vancouver-based company said Canadian cannabis grew net sales by 45% and retail branded sales by 35% year-over-year, as well as another quarter of positive adjusted EBITDA and operating cash flow.Michael DeGiglio, president and CEO of Village Farms, said the company is "driving strong momentum in our Canadian Cannabis business."
Cannabis Co. Cresco Lab's Q2 Gross Profit Increases Over 9% YoY, Reports Nearly 7% Drop In Revenue
Cannabis producer and the operator of Sunnyside dispensaries Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) released on Thursday its financial and operating results for the second quarter ended June 30, 2024. "Our Q2 results demonstrate the sustainability of the improvements we've made to the business over the past year with $184 million in revenue at a 29% Adjusted EBITDA margin," Charles Bachtell, CEO of Cresco Labs, said. "It is clear our strategy is working; we are creating the brands consumers love and delivering best-in-class retail operations through Sunnyside."
Highest On Record - Cronos Group Reports 46% YoY Increase In Q2 Net Revenue
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) announced on Tuesday its 2024 second-quarter business results. The company reported $27.8 million in net revenue during the quarter, representing a 46% year-over-year increase. Mike Gorenstein, chairman, president and CEO of Cronos, said that's the "highest quarterly net revenue on record."
Trulieve Touts Third Consecutive Quarter Of Revenue Growth, Narrows Q2 Net Loss 97% YoY, Launches Cannabis Sales In Ohio
Trulieve Cannabis Corp. announced on Tuesday its second-quarter results for the three months ended June 30, 2024. The Florida medical cannabis giant reported a 2% quarter-over-quarter and 8% year-over-year increase to $303 million, with 95% of the sum coming from retail sales, driven by higher retail traffic and increased wholesale revenue.
Zig-Zag Segment On Sustainable Growth Trajectory, Turning Point CEO Reports 7% YoY Improvement In Adjusted EBITDA, Raises 2024 Guidance
Turning Point Brands, Inc. (NYSE: TPB), a maker of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced on Thursday financial results for the second quarter ended June 30, 2024. The company said adjusted EBITDA for the quarter came in positive at $27 million, representing a year-over-year improvement of 7%. That said, Turning Point has increased its full-year 2024 adjusted EBITDA guidance to $98 to $102 million. "We were pleased by our second quarter results," Graham Purdy, president and CEO, said. "We achieved our highest quarterly EBITDA since the second quarter of 2021."
Cannabis Companies About To Release Earnings Reports, Get Your News Here: Glass House, Schwazze And More
Glass House Brands Inc. (OTCQX: GLASF) (OTC: GHBWF) is about to report financial results for the second quarter ended June 30, 2024, on Tuesday, August 13, 2024, after market close.Medicine Man Technologies, Inc., operating as Schwazze, (OTC: SHWZ) (Cboe CA: SHWZ) will host a conference call on Tuesday, August 13, 2024, at 5:00 pm Eastern time to discuss its financial and operational results for the second quarter ended June 30, 2024. Jones Soda Co. (CSE: JSDA) (OTCQB: JSDA) a cannabis-infused beverage maker, will hold a conference call on Tuesday, August 13, 2024, at 4:30 pm Eastern Time to discuss its financial results for the second quarter that ended June 30, 2024.SHF Holdings, Inc., which is doing business as Safe Harbor Financial (NASDAQ: SHFS) will report financial results for the second quarter of 2024 ending June 30, 2024, on Wednesday, August 14, 2024, after the close of the market.
Canadian Cannabis Extractor Ayurcann's Q2 Revenue Jumps Over 81% YoY, Net Loss Grows
Ayurcann Holdings Corp. saw a 81% year-over-year increase in net revenue to CA$5.8 million ($4.3 million) in the second quarter of fiscal 2024. The Toronto-based cannabis company specializes in manufacturing derivative cannabis products for the recreational market, securing 22 new stock-keeping units in various categories across several Canadian provinces. In the second quarter of fiscal 2024, the company reported a net loss of CA$771,622, with expenses amounting to CA$2.7 million and a gross margin of 37%. By the end of 2023, Ayurcann had total assets of CA$16.2 million and total liabilities of CA$14.2 million. Overall, for the first half of 2024, Ayurcann achieved a total net revenue of CA$12.3 million, with a decreased net loss of CA$951,267, expenses of CA$5.07 million, and a gross margin of 36%.
Tilray's Diversified Growth Strategy Is Paying Off, Here's What's Behind 34% YoY Revenue Increase In Q2
Canadian cannabis company Tilray reported a 34% increase in revenue in its second quarter of fiscal 2024. The company reported revenue of $194 million, up from $145 million in the same period last year. Tilray's cannabis net revenue increased 35% to $67 million, while beverage alcohol net revenue increased 117% to $47 million. Distribution net revenue also rose to $67 million, compared to $60 million in the same quarter last year. The company's gross profit increased 11% to $47 million, with adjusted gross profit up 18% to $52 million. Net loss in the second quarter amounted to $46 million, compared to a net loss of $62 million in the same period last year. Adjusted EBITDA stood at $10.1 million, down from $11 million in Q2 2023.
Vancouver Cannabis Producer Reports 17th Consecutive Quarter Of Positive Cash Flow Amid Industry Headwinds
Cannabis company C21 Investments Inc.
Simply Better Brands Reports Adjusted EBITDA Loss In Q2, CEO Confident In Revenue & Profit Growth For 2023
Simply Better Brands Corp. (TSXV: SBBC) (OTCQB: PKANF) reported on Tuesday interim financial results for the three months ended June 30, 2023.
Focusing On Innovative Product Lines Bears Fruit For This Cannabis Co In Q2
Hempsana Holdings Ltd. announced on Tuesday financial results for the three and six-month period ended June 30, 2023, revealing second-quarter net revenues of CA$422,170 ($310,609), representing a 16% sequential increase.
Two Key Cannabis Trends Surged - Entourage Health's Financial Results Show Why
Canadian cannabis producer Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) (FSE:4WE) reported on Wednesday financial results for the three months ended June 30, 2023.
RIV Capital Reports YoY Revenue Growth In Q2, Plans To Establish Dominant Role In New York Wholesale Market
Cannabis-focused acquisition and investment firm RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) reported on Monday its second-quarter financial results for the three months ended on June 30, 2023.
Canadian Cannabis Producer Reduces Net Loss In Q2, Reports Drop In Revenue And Gross Profit Improvement
Red White & Bloom Brands Inc. (CSE: RWB) (OTC: RWBYF) reported on Tuesday its condensed interim consolidated unaudited financial results for its second quarter ended June 30, 2023.
Irwin Naturals Revenue Sluggish In Q2, Net Loss Grows YOY
Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) reported its financial results for the second quarter of fiscal 2023, the period ended June 30, revealing a slight year-over-year improvement in revenue - up by 1.5% to $22.1 million.
Israeli Cannabis Co. Reports Solid Q2 Performance, Nearing Growth Targets
Cannabis company Evogene Ltd.
This Cannabis MSO's Q2 Results Reflect Healthy Momentum Amid Industry Headwinds
Vertically integrated cannabis company AYR Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF) reported its financial results for the second quarter ended June 30, 2023 on Thursday, revealing a 0.8% sequential decrease and 18% year-over-year increase in rev
Cresco Labs Reports Slight Sequential Improvement In Q2, YoY Drop In Revenue And Gross Profit As Net Loss Grows
Cannabis company Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) reported its financial and operating results on Wednesday for the second quarter ended June 30, 2023, revealing a 2% sequential increase and 9.3% year-over-year drop in revenue
Canadian Cannabis Producer Reports Revenue Spike And Improved Margins In Q2, But What About Net Loss?
Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) announced reported its interim second-quarter financial statements for the three months ending June 30, 2023.

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga

© 2024 Benzinga | All Rights Reserved