Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.
Read More
2 minute read

Marijuana Fintech Co. POSaBIT Reports 67% YoY Drop In Q1 Revenue, Renews Focus On Sustainable Profitability And Growth

By Jelena Martinovic
June 14, 9:13 AM
Cannabis-focused provider of payments infrastructure POSaBIT Systems Corporation (CSE: PBIT) (OTC: POSAF) announced on Thursday its financial results for the three months ended March 31, 2024.The company reported a 67% year-over-year drop in revenue to $33.8 million in the first quarter. Ryan Hamlin, co-founder and CEO of POSaBIT, said the company faced "market challenges" with its payments business at the end of 2023 and in early 2024.

CSE:PBIT

Read More
2 minute read

Canadian Weed Producer Red White & Bloom Narrows Loss, Reports 15% YoY Drop In Q1 Revenue As It Wraps Up Aleafia Acquisition

By Jelena Martinovic
May 31, 11:56 AM
Canadian cannabis company Red White & Bloom Brands Inc. (CSE: RWB) announced on Thursday that it has filed its condensed interim consolidated financial statements for its first quarter ended March 31, 2024.Revenues were CA$22.6 million ($16.5 million), representing a CA$2.7 million increase over the previous quarter and a decrease of CA$3.9 million year-over-year.Net loss from continuing operations attributable to shareholders was CA$3.7 million, representing a year-over-year improvement from CA$6.5 million net loss in the first quarter of last year.

CSE:RWB

Read More
2 minute read

Cansortium Cuts Loss YoY, Reports 14% Increase In Q1 Revenue Driven By Florida Cannabis Sales Ahead Of Merger With RIV Capital

By Jelena Martinovic
May 31, 11:34 AM
Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) a vertically-integrated, multi-state cannabis company operating under the FLUENT brand, announced on Thursday financial and operating results for the first quarter ended March 31, 2024."We delivered another quarter of year-over-year revenue growth and positive cash flow generation during the first quarter as we continued to execute on our growth objectives," CEO Robert Beasley said. "We are making the critical investments needed to lay the foundation for growth and support our future plans and remain excited about the opportunities ahead."

CNPOF

Read More
2 minute read

RIV Capital Reports YoY Increase In Q1 Revenue, Gross Profit Ahead Of Merger With Cansortium To Create Four-State Cannabis Company

By Jelena Martinovic
May 31, 11:30 AM
Cannabis-focused acquisition and investment firm RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) released on Thursday its financial results for the first quarter ended March 31, 2024.Mike Totzke, the company's COO and interim CEO, called the first quarter "pivotal" referring to the official launch of the company's recreational cannabis operations in New York. The company opened its first adult-use dispensary in White Plains.

CNPOF

Read More
2 minute read

Acreage’s Q1 Revenue Slips 19% YoY But CEO Foresees ‘Significant Growth Opportunities’ As Canopy Growth Strategy Moves Forward

By Jelena Martinovic
May 31, 9:07 AM
Multi-state cannabis operator Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), reported on Friday its financial results for the first quarter ended March 31, 2024. "In the first quarter, we diligently focused on cash preservation, implementing cost-saving measures, and honing our business strategy," Dennis Curran, the company's CEO, said. "Our Northeastern footprint was a focal point with our entry into the New York adult-use wholesale market and the conversion of our third dispensary in Connecticut to a hybrid model serving both patients and consumers."

ACRDF

Read More
2 minute read

Grown Rogue Reports Record Q1 Revenue, CEO Calls These Two States ‘Primary Growth Drivers’

By Jelena Martinovic
May 30, 10:09 AM
Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) reported on Thursday its first-quarter 2024 results for the three months ended March 31, 2024.The Medford, Oregon-based company reported record quarterly revenue of $6.7 million, compared to $6 million in the three months ended April 30, 2023, representing a year-over-year increase of 11%."This was another exciting quarter with record revenue and aEBITDA despite the year-ago comparison period including April instead of January; April is seasonally a stronger month for the industry," Obie Strickler, CEO of Grown Rogue, said. "In addition, we achieved record indoor revenue in Michigan and Oregon during the quarter and are thrilled that an increasing number of customers in competitive markets are choosing our products which means we are continuing to bring them value."

CSE:GRIN

Read More
3 minute read

Canopy Growth Reports 7% YoY Increase In Q4 Net Revenue, Continues Focus On Innovation In Canada And International Expansion

By Jelena Martinovic
May 30, 8:55 AM
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced on Thursday financial results for the fourth quarter and fiscal year ended March 31, 2024.Fourth quarter net revenue for the company's subsidiary Storz & Bickel which manufactures high-end and medically certified cannabis vaporizers surged 43% year-over-year to CA$22million ($16 million).Moreover, Canada's cannabis net revenue in the same period increased 4% year-over-year led by a 16% increase in the Canada medical cannabis business that saw its 5th consecutive quarter of revenue growth.

CGC