California Cannabis Producer Reports Revenue Challenges In Q3 As Gross Margins Improve YoY
Portfolio Pulse from Jelena Martinovic
Leef Brands, Inc. reported a 19% YoY decrease in Q3 revenue to $5.7 million, but a 10% increase in revenue for the nine months ended Sept. 30, 2023. Gross margins improved YoY, and operating expenses decreased significantly. The company experienced a net loss of $2 million, and total liabilities and shareholders' equity decreased to $48.8 million. Post-market close on Monday, shares traded 13.8716% higher at $0.0137.
November 21, 2023 | 3:19 pm
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Leef Brands reported lower Q3 revenue but improved gross margins and reduced operating expenses. The company's net loss was $2 million, and shares rose 13.8716% after hours.
Despite the revenue decrease, the improvement in gross margins and reduction in operating expenses may be seen as positive signs of cost management. However, the net loss indicates ongoing challenges. The after-hours stock price increase suggests a mixed short-term impact, as the market may have reacted positively to the cost management efforts.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100