Female-Led Cannabis Company Sees 95% YoY Growth & $32M Revenue As It Gallops Across California
Portfolio Pulse from Joana Scopel
Gold Flora Corporation (OTCPK: GRAM), a female-led cannabis company, reported a 95% year-over-year revenue growth for Q3 2023, reaching $32 million. The company also saw a gross profit of $11.3 million and an adjusted gross profit of $18.1 million. Net income was $23 million, including a non-cash $49 million gain from a business combination with TPCO Holding Corp. Despite an Adjusted EBITDA loss of $1.7 million due to the business combination costs, the company maintains a strong liquidity position with $32.3 million in cash. GRAM's stock was down 3.24% at $0.1089 per share.
November 15, 2023 | 1:42 am
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Gold Flora Corporation reported significant revenue growth and strong profits in Q3 2023, but shares fell 3.24% to $0.1089.
The substantial revenue and profit growth indicate a strong financial performance for Gold Flora Corporation, which would typically lead to a positive market reaction. However, the stock price has decreased, which could be due to market conditions, investor expectations, or other external factors not mentioned in the article. The short-term impact is negative due to the observed price action, despite the positive earnings report.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100