Canada's Top Weed Accessory Distributor Will Ramp Up In California, Reports 2023 Sales Uptick
Portfolio Pulse from Jelena Martinovic
Humble & Fume Inc., a Canadian cannabis accessory distributor, reported its FY 2023 financial results, showing an increase in total revenue to $49.6 million from $48 million in FY 2022. However, the company's net loss grew to roughly $25 million from $16 million in the prior year. The company's CEO, Jakob Ripshtein, praised the company's growth efforts in the California distribution business. The company plans to intensify its efforts in the California cannabis sector going forward.
October 27, 2023 | 2:14 pm
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NEUTRAL IMPACT
Humble & Fume reported increased revenue but also a higher net loss for FY 2023. The company's growth in the California market could potentially offset the increased losses in the future.
While Humble & Fume reported increased revenue, the company's net loss also grew significantly. This could potentially impact the company's stock negatively. However, the company's growth in the California market and plans to intensify efforts in this sector could potentially offset these losses in the future, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100