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

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."

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Ideal Power Reports Q1 Earnings, CEO Expects Solid-State Circuit Breaker Market To Grow Revenue

Ideal Power Inc (NASDAQ:IPWR) reported first-quarter FY24 commercial revenue of $78,739, a notable increase from zero last year. Operating expenses fell to $2.5 million from $2.6 million. The company completed a public offering, raising $15.7 million, and held $20.2 million in cash by March 31, 2024, with no outstanding long-term debt. Ideal Power expects its SymCool power module to drive early sales in industrial markets.

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