Vertical Integration Pays Off For This Cannabis Company In Q2 2023, Here's Why
Portfolio Pulse from Jelena Martinovic
Cansortium Inc. (CSE:TIUM) (OTCQX:CNTMF), a vertically-integrated, multi-state cannabis company operating under the FLUENT brand, reported Q2 2023 financial results. The company saw a 9% YoY revenue increase to $24.4 million, with Florida revenue up by 11% YoY. Adjusted gross profit rose 5% YoY to $15.8 million. However, net loss amounted to $5.35 million, down from $12 million in the prior year's period. The company also announced operational highlights, including new store openings and a headquarters relocation.
August 29, 2023 | 4:35 pm
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NEUTRAL IMPACT
Cansortium Inc. reported a 9% YoY revenue increase and a reduced net loss in Q2 2023, indicating improved financial performance. However, the company's stock traded lower.
Despite reporting improved financial results, Cansortium's stock traded lower, indicating that the market may have expected better performance or is reacting to other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Cansortium Inc., listed as TIUM on the CSE, reported improved financial results for Q2 2023, but its stock traded lower.
Despite reporting improved financial results, Cansortium's stock traded lower, indicating that the market may have expected better performance or is reacting to other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100