Cannabis Titan Cannabist: Q1 2024 Revenue Holds Steady At $122.6M, Trims Net Loss By 5% YoY
Portfolio Pulse from Patricio Liddle
Cannabist Company Holdings Inc. (CBSTF) reported Q1 2024 results with revenue at $122.6M, a slight decrease from the previous year, and a net loss trimmed by 5% YoY to $34.6M. The company highlighted strategic partnerships and retail expansion as key operational highlights, despite facing cash flow challenges. Shares of CBSTF were trading 9.09% lower at $0.28 per share.
May 09, 2024 | 2:54 pm
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Cannabist Company Holdings Inc. reported a slight revenue decrease and a 5% reduction in net loss for Q1 2024, alongside strategic growth efforts. However, shares fell 9.09% to $0.28.
The slight decrease in revenue and reduction in net loss indicate a mixed financial performance. The drop in share price following the earnings report suggests a negative market reaction in the short term, likely due to the reported cash flow challenges and the slight revenue decrease.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100