Newsfeeds Archive - Page 4 of 65

2 minute read

Decibel Cannabis Reports 16% YoY Drop In Q1 Revenue, CEO Expects Improved Q2 And ‘Continued Path To Sustainable Growth And Profitability’

May 29, 10:18 AM

Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF), a maker of premium cannabis and extract manufactured products, announced on Wednesday its unaudited interim financial results for the three months ending March 31, 2024. The Calgary, Alberta-based company reported a year-over-year decrease of 16% in net revenue to $21 million. Benjamin Sze, the company's CEO said that "despite the drop in revenue, we remain one of Canada's top brands by market share." The company boasted a national market share of 6% in the first quarter, placing it as the 4th largest licensed producer in Canada by market share, the company said in a press release.

2 minute read

Cannabis Producer Vext Reports YoY Decline In Q1, Announces $2M Standby Credit Facility Ahead Of Ohio Rec Market Launch

By Jelena Martinovic

May 29, 9:34 AM

Cannabis operator with vertical operations in Arizona and Ohio, Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) reported on Wednesday its first quarter financial results for the three months ended March 31, 2024."The first quarter of 2024 continued to present consumer-related challenges to all operators, with the Arizona market overall experiencing another decline in quarterly revenue," said Eric Offenberger, CEO of Vext.

CSE:VEXT

3 minute read

Weedmaps Reports YoY Improvements In Adjusted EBITDA, Reports Drop In Q1 Revenue

By Jelena Martinovic

May 28, 11:08 AM

WM Technology, Inc. (NASDAQ: MAPS) - also known as Weedmaps - announced on Friday its first quarter financial results for the three months ended March 31, 2024 and the full year ending December 31, 2023."I am proud of the progress and results our team was able to deliver to start the year, and more importantly, we are pleased that the net effects of our revenue recognition review were relatively minimal," said Doug Francis, executive chair of WM Technology. "We believe our continued focus on developing strong client relationships and commitment to operational efficiency have positioned the Company to continue to profitably build its base of quality clients in this dynamic industry over time."

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2 minute read

Organigram And This Canadian Cannabis Brand Expand In Europe And Beyond

By Jelena Martinovic

May 28, 10:20 AM

Germany's recent legislative push in the cannabis sector marks a significant turning point not only for the country but also for the European cannabis landscape. Europe has become more open-minded about medical and recreational marijuana over the recent years which is why the growing number of the North American cannabis operators that opted to venture into the new market doesn't come as a surprise. On Tuesday, Toronto-based cannabis giant Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) announced its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and specials medicines manufacturing business.In the meantime, this week, Canadian cannabis brand Ghost Drops, announced an exclusive partnership with SOMAÍ Group, an international cannabinoid biopharma company with distribution channels.

OGI

2 minute read

Entourage Health Cannabis Reports 9% YoY Increase In Q1 Revenue, Positive EBITDA And ‘Substantial Growth’

By Jelena Martinovic

May 28, 8:42 AM

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."

ETRGF

2 minute read

Cannabis Company 4Front Reports 28% YoY Drop In Q1 Revenue While Net Loss Grows, CEO Optimistic With Biden’s Marijuana Rescheduling News

By Jelena Martinovic

May 17, 9:04 AM

Vertically integrated multi-state cannabis operator and retailer 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) announced on Friday its results for the quarter ended March 31, 2024. "We've had an encouraging start to the year, energized by the fresh dynamics introduced with my recent appointment as CEO," the company's Andrew Thut said. "In just a few weeks, we've seen tangible improvements in our financial health, evidenced by reduced operational costs and effective management of working capital."

CSE:FFNT

2 minute read

Cannabis Cultivation Solutions Provider Agrify And California’s Nature’s Miracle Sign Definitive Merger Deal

By Jelena Martinovic

May 16, 11:35 AM

Vertical farming technology and infrastructure provider Nature's Miracle Holding Inc. (NASDAQ: NMHI) and Agrify Corporation (NASDAQ: AGFY) announced on Thursday that both parties have signed a definitive agreement and plan of merger. Under the deal, a new wholly-owned subsidiary of Nature's Miracle will merge with and into Agrify, with Agrify surviving the merger as a wholly-owned subsidiary of Nature's Miracle. The signing of the definitive agreement directly follows the previously announced term sheet for the merger, according to a press release.

AGFY

2 minute read

‘Psychedelics-Inspired’ Meds For Depression, Anxiety, Addiction Producer Trims Q1 Net Loss YoY, Increases Cash On Hand

By Jelena Martinovic

May 16, 11:25 AM

Enveric Biosciences reported on Wednesday financial results for the first quarter of 2024 ended March 31, 2024."We believe the first quarter of 2024 was a highly productive period for Enveric as the company continued to advance the development of the lead neuroplastogen drug candidate, EB-003, in preparation for an investigational new drug (IND) application and the expected initiation of a planned clinical development program," Joseph Tucker, Ph.D., director and CEO of Enveric, said. "EB-003 was designed specifically to address this major safety profile deficiency in the first-generation psychedelic approach to treating neuropsychiatric illness, and we are excited to advance its development."

ENVB

2 minute read

Delta 9 Cannabis’ Q1 Revenue Drops Slightly YoY, Gross Profit Grows 10%

By Jelena Martinovic

May 16, 8:41 AM

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

DLTNF

2 minute read

AYR Wellness Improves Financial Position YoY, Q1 Revenue And Gross Profit In Anticipation Of OH, FL And PA Cannabis Market Launches

By Jelena Martinovic

May 15, 11:31 AM

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.

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