Jones Soda Q2 Cannabis Revenue Doubles YoY, Here Is What You Need To Know
Portfolio Pulse from Vuk Zdinjak
Jones Soda Co. reported Q2 2023 revenues of $4.8 million, down from $6.0 million in Q2 2022, due to a one-time inventory stocking event in 2022. However, the company's cannabis segment saw revenues double to $400,000 from Q1 2023. Gross profit was $1.6 million, down 7.6% YoY, but gross margin improved to 32.4%. Net loss improved to $1.0 million, and adjusted EBITDA improved to negative $729,000. The company expects to be operational in three new states by the end of the year.
August 10, 2023 | 2:15 pm
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Jones Soda reported lower Q2 2023 revenues due to a one-time event in 2022, but saw growth in its cannabis segment. The company is also planning to expand to three new states by the end of the year.
While Jones Soda's overall Q2 2023 revenues were down due to a one-time event in 2022, the company saw growth in its cannabis segment and is planning to expand to three new states by the end of the year. This could potentially lead to increased revenues in the future, but the impact on the stock price in the short term is uncertain.
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