RIV Capital Reports YoY Increase In Q1 Revenue, Gross Profit Ahead Of Merger With Cansortium To Create Four-State Cannabis Company
Portfolio Pulse from Jelena Martinovic
RIV Capital Inc. reported a year-over-year increase in Q1 revenue and gross profit, ahead of its merger with Cansortium Inc. The combined company will operate in four states, covering 25% of the U.S. population. Despite the revenue growth, the company reported an operating loss and a net loss for the quarter.
May 31, 2024 | 3:30 pm
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RIV Capital Inc. reported a year-over-year increase in Q1 revenue and gross profit, but also an operating loss and net loss. The company is set to merge with Cansortium Inc., expanding its operations to four states.
The increase in revenue and gross profit is a positive indicator, and the upcoming merger with Cansortium Inc. is likely to expand the company's market presence. However, the operating loss and net loss are concerns that may temper investor enthusiasm.
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