Nevada Cannabis Co. Reports YoY Decrease In Q1 Revenue & Gross Profit, 154% Increase In Cash Flow
Portfolio Pulse from Jelena Martinovic
CLS Holdings USA, Inc. (OTCQB:CLSH) reported a 15% YoY decrease in Q1 revenue to $5.1 million and a 22% decrease in gross profit to $2.3 million. However, the company saw a 154% increase in cash flow from operating activities. The company is exploring asset-light approaches in the Nevada market, which is expected to grow 33% between 2020 and 2025, and in nearby markets like Arizona and New Mexico.
October 13, 2023 | 1:31 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
CLS Holdings reported a decrease in Q1 revenue and gross profit but an increase in cash flow. The company is exploring growth opportunities in the Nevada market and nearby markets.
While the company reported a decrease in revenue and gross profit, the increase in cash flow and the potential growth in the Nevada and nearby markets could balance out the impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100