California-based Blüm Holdings Inc. (OTCQB: BLMH) reported a net loss of $3.3 million for its third quarter of the year, down year-over-year from the $23.8 million in net income the company reported for the same period in 2023. A partial factor in Blüm’s troubles is the insolvency of its subsidiary, Unrivaled Brands, which filed a […]
California-based Leef Brands Inc. (CSE: LEEF), formerly Icanic Brands, posted higher revenue but wider losses for its third quarter as the company continues to shift its focus to bulk concentrate manufacturing. Net sales rose 19% year-over-year to $6.8 million for the quarter ending Sept. 30, according to Leef’s news release. However, gross margins contracted to […]
New York-based Atai Life Sciences (Nasdaq: ATAI) reported a net loss of $26.3 million for the third quarter, down year-over-year from its net income of $43.3 million, but the clinical-stage biopharmaceutical company also noted it’s well-positioned to bring multiple mental health drugs to market in the not-too-distant future. Atai said in a release that it’s […]
Advanced Flower Capital Inc. (NASDAQ: AFCG), formerly known as AFC Gamma, reported sharply lower third-quarter earnings as profit plunged 91% from the second quarter and 82% year-over-year amid ongoing challenges with problem loans. The Florida-based real estate investment trust posted net income of $1.4 million, down from $16.4 million in the previous quarter and $8 […]
Following the market close on Tuesday, iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQB: ITHUF) reported its financial results for the third quarter ending September 30, 2024. IAnthus reported that its revenue fell 6.3% sequentially to $40.3 million and dropped 6.1% from the same quarter in the prior year. The company’s revenue in the eastern region […]
Cronos Group (NASDAQ: CRON) (TSX: CRON) posted a 38% increase in third-quarter revenue, driven by strong cannabis flower and extract sales in Canada, where its Spinach brand has climbed the market leaderboards. The Toronto-based cannabis producer generated net revenue of $34.3 million in the third quarter ending Sept. 30, up from $24.8 million a year […]
Ascend Wellness Holdings (CSE: AAWH.U) (OTCQX: AAWH) posted mixed third-quarter results as it deals with increasing competition in some of its key markets. Net revenue inched up 0.3% from a year earlier to $141.6 million, according to the company Tuesday. However, the company also increased its net loss to $28.3 million, compared to a loss […]
Ispire Technology (Nasdaq: ISPR) shed some weight during the fiscal first quarter as the vaping technology company continued to expand its product lines, though sales fell short of analyst estimates. The California-based company posted a net loss of $5.6 million for the first quarter ending Sept. 30, versus a loss of $1.3 million, a year […]
Despite the failure of Amendment 3 in Florida, the company said it will continue expanding in the state. Nevada-based Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) this week reported a net loss of $7.4 million for the third quarter, down significantly from the $46.3 million loss during the same quarter a year ago. The […]
The performance stands out in a sector where producers have largely struggled with softening prices and oversupply. Auxly Cannabis Group (TSX: XLY) (OTCQB: CBWTF) hit record quarterly sales and strengthened its position in the Canadian market, even as liquidity concerns continue to shadow the producer. Net revenue jumped 18% to C$33.3 million in the third […]
