Newsfeeds Archive - Page 5 of 65

2 minute read

Cresco Labs CEO Touts 10x Increase In Operating Cash Flow YoY As Cannabis Company Reports Q1 Results

May 15, 9:25 AM

Cannabis producer Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) announced on Wednesday its financial and operating results for the first quarter ended March 31, 2024. "I want to thank the Cresco team for taking our learnings from the Year-of-the-Core, making them a part of our DNA and producing such a strong start to 2024," Charles Bachtell, CEO of Cresco Labs, said. "The continued development of our teams' capabilities and our relentless focus on efficient execution is leading to very strong performance across our retail and branded product business resulting in a 10x increase in operating cash flow year-over-year."

2 minute read

POSaBIT’s 2023 Revenue Drops 7% YoY, Core Business Grows As It Seeks To List Its Shares On TSX

By Jelena Martinovic

May 14, 12:50 PM

POSaBIT Systems Corporation (CSE: PBIT) (OTC: POSAF), a provider of payments infrastructure in the cannabis industry, announced on Tuesday its financial results for the twelve months ended Dec. 31, 2023. "Despite the challenges posed by several industry-wide payment disruptions in 2023, I am proud that we achieved a combined 23% growth in our core payments and point-of-sale business, excluding a one-time licensing fee booked in 2022," Ryan Hamlin, co-founder and CEO of POSaBIT, said. "Our unwavering dedication to supporting our merchants, clients, and providing best-in-class service remains our top priority."

CSE:PBIT

2 minute read

Cannabis MSO iAnthus Trims Net Loss In Q1, Reports YoY Increase In Revenue, Gross Profit

By Jelena Martinovic

May 14, 12:44 PM

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.

CSE:IAN

2 minute read

CBD-Focused Avicanna Reports First-Ever Adjusted EBITDA Positive Quarter, 451% YoY Spike In Q1 Record Revenue

By Jelena Martinovic

May 14, 9:27 AM

Cannabis-focused biopharmaceutical company Avicanna Inc. announced on Tuesday financial results for the first quarter of fiscal 2024.CEO Aras Azadian called it its "best quarter." In addition to being its first EBITDA-positive quarter, it also saw record gross margins.Azadian credited the results to "the proprietary nature of products and services we offer in Canada."

AVCNF

2 minute read

Ancillary Cannabis Co. Hydrofarm Reports YoY Drop In Q1 Sales, Gross Profit While Narrowing Loss, Expects To Cash In On Marijuana Rescheduling

By Jelena Martinovic

May 14, 8:23 AM

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.

HYFM

2 minute read

CBD Helps With This Rare Blistering Skin Disorder, New Study From Avicanna Shows Promising Results In Epidermolysis Bullosa Treatment

By Jelena Martinovic

May 13, 1:56 PM

There is no cure for a rare blistering skin disorder called Epidermolysis Bullosa (EB). But, treatments to help alleviate and control the symptoms do exist. The growing body of research suggests cannabinoid-based medicines help ease pain and pruritus in those with a disorder while improving wound healing.The latest scientifically prove healing power of cannabis was Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products.

AVCNF

4 minute read

Here’s Where To Buy Legal Weed: Florida’s Thriving Cannabis Landscape And More New Marijuana Stores In US And Canada

By Jelena Martinovic

May 13, 11:18 AM

In anticipation of the outcome of Florida's Measure 3, cannabis giants are racing to bolster their retail footprint statewide. In California, four new cannabis stores kicked off sales recently. New York's cannabis retail footprint continues to grow. Five states each opened a new cannabis store, while Canna Cabana retail presence expands in Canada,

CSE:GTII

2 minute read

Top Canadian Cannabis Producer Village Farms Strengthens Board Of Directors As It Eyes Legal Weed Opportunities In Europe

By Jelena Martinovic

May 13, 10:17 AM

On the heels of reporting a new record with Canadian cannabis sales increasing 49% year-over-year to $37.4 million in the first quarter of 2024, which Michael DeGiglio, president and CEO of the company touted as "an especially strong start" to the new fiscal year, Village Farms International, Inc. (NASDAQ: VFF) opted to strengthen its board of directors with a new addition.Carolyn Hauger, who brings extensive finance, operations and public company director experience, joined Village's board effective immediately and will stand for election at the company's annual shareholders meeting slated to take place next month.

TSX:JEV

2 minute read

This Cannabis Co. Expects Significant Growth Once Ohio’s Retail Market Launches, Reports Slight YoY Decrease In 2023 Revenue

By Jelena Martinovic

May 10, 9:31 AM

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.

CSE:VEXT

2 minute read

SNDL Cannabis Co. Wraps Up Q1 With No Outstanding Debt As It Works On Expanding In US

By Jelena Martinovic

May 9, 2:00 PM

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.

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