Marijuana Operator Tilt Holdings' Revenue Drops YoY, But Manages To Reduce Net Loss
Portfolio Pulse from Nina Zdinjak
Tilt Holdings Inc. reported a decrease in quarterly revenue from $44.3 million in 2022 to $37.5 million in 2023, but managed to reduce its net loss from $73.1 million to $22.0 million over the same period. The company attributes the revenue drop to the timing of Jupiter order shipments and a decrease in the average price of certain products. Despite the challenges, TILT has improved operating efficiency, reduced expenses, and begun restructuring debt. The company's shares closed 3.66% higher at $0.034 per share.
March 15, 2024 | 12:02 pm
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Tilt Holdings Inc. reported a decrease in revenue but a significant reduction in net loss, alongside improved operating efficiency and cost savings.
The reduction in net loss and the company's focus on improving operating efficiency and cost savings are positive indicators for future performance. The increase in share price following the earnings report suggests a positive market reaction in the short term.
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