Schwazze Q3 2023 Touts $46.7M Revenue Thanks To Expanding Retail Footprint: 63 Weed Shops And Counting
Portfolio Pulse from Joana Scopel
Schwazze (OTCQX:SHWZ) reported an 8% increase in Q3 2023 revenue to $46.7 million, driven by retail expansion and wholesale growth, but faced a net loss of $0.3 million and a decrease in gross profit margin. The company now operates 63 stores and is focusing on revenue growth, customer acquisition, and operational efficiency. SHWZ shares rose 9.07% to $0.60 following the report.
November 14, 2023 | 10:44 pm
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POSITIVE IMPACT
Schwazze reported increased revenue but a net loss in Q3 2023. The company's expansion to 63 stores and focus on integration of acquisitions may drive future growth. Shares increased by 9.07%.
The positive revenue growth and strategic focus on operational efficiencies suggest potential for future profitability, which is likely to be viewed favorably by investors. The share price increase indicates a positive short-term market reaction to the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100