Schwazze Reports Q2 2023: Revenue $42.4M Despite Challenges, Adjusted EBITDA $13.8M
Portfolio Pulse from Joana Scopel
Schwazze (OTCQX:SHWZ) reported Q2 2023 financials with a total revenue of $42.4 million, down from $44.3 million last year due to lower wholesale revenue and a 25% YoY drop in pricing. The company's gross profit stands at $24.5 million, boosted by efficiency gains despite wholesale pricing pressure. Operating expenses rose to $19.6 million, due to 27 new stores in Colorado and New Mexico. The company's CEO highlighted its commitment to its 'go deep' retail strategy, demonstrated through acquisitions like Everest Apothecary in New Mexico and Standing Akimbo in Colorado.
August 09, 2023 | 11:22 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Schwazze's Q2 2023 financials show a decrease in revenue, but the company is making strategic acquisitions and opening new stores to boost future growth.
Schwazze's Q2 2023 financials show a decrease in revenue due to lower wholesale revenue and a 25% YoY drop in pricing. However, the company is making strategic acquisitions and opening new stores, which could boost future growth. The company's stock price may remain stable in the short term as investors weigh the potential for future growth against the current decrease in revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100