ManifestSeven Q3 Revenue Increased 11% QoQ To $4.2M, Cuts Operating Expenses By 33%

ManifestSeven Holdings Corporation MSVN MNFSF, California's first integrated omnichannel platform for legal cannabis, announced financial results for its fiscal third quarter ended August 31, revealing an 11% sequential increase in revenue, which amounted to $4.2 million.

Over the third quarter, the Irvine-based company continued to generate revenue from its regulated operations, resulting in a 25% quarter-over-quarter increase in regulated product sales.

Operating expenses for the same period totaled $2.3 million, a decrease of 33% from $3.5 million during the second fiscal quarter.

Consolidated gross profit for the quarter amounted to $1.17 million, after declining 6% sequentially, from $1.24 million in the second quarter.

In July 2021, the company entered into a master services agreement with a licensed third-party cannabis distribution company, focused primarily on the rapidly growing beverage product category, to carry out finished goods distribution operations on behalf of Highlanders.

Last year, the company acquired Lady Chatterley Health, a San Francisco-based legal cannabis delivery service focused on high-end women's products, complementing its licensed operations in Oakland and Brisbane.

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