The Hempshire Group, Inc. HMPG HMPSF formerly known as Hoist Capital Corp, reported on Tuesday its second quarter financial results, revealing a year-over-year increase in revenue of 187% to $56,213.
Q2 2023 Financial Highlights
- Gross margins improved to 47% during the second quarter from a negative 53% in the comparative period. The comparative 2022 period was negative due to an inventory write-down of $24,966.
- Loss from operations totaled $514,728, representing a year-over-year improvement from $548,554 in the same period of last year.
- Net loss and comprehensive loss was $625,306, compared to $4.06 million in the prior year's period.
- As of June 30, 2023, the company's combined cash and non-cash working capital balances were $0.3 million.
Hempshire formulates and markets its own proprietary brand of organic hemp smokes under the MOUNTAIN Smokes brand name, including MOUNTAIN® Original, Mint Squeeze, and Pineapple Squeeze.
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Related News
- The Hempshire Group Secures $539K Via Note Financing, Approves Incentive Plans And Incentive Awards
- The Hempshire Group Q3 Revenue Declines 59% YoY, Settles All Debt
Photo: Courtesy of Matteo Paganelli on Unsplash
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