New York's The Cannabist Company: Q2 Revenue Declines 3% YoY, Reduces Net Loss As It 'Strives To Build A Better Business'
Portfolio Pulse from Nina Zdinjak
The Cannabist Company Holdings Inc. reported a 3% decline in Q2 revenue year-over-year, with revenue of $125.19 million. Despite the decline, the company reduced its net loss significantly and showed improvements in gross profit, Adjusted EBITDA, and cash from operations. The company is focusing on cost reduction, de-risking the balance sheet, and progressing towards free cash flow generation. Shares closed 1.70% lower at $0.23 per share.
August 08, 2024 | 2:41 pm
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The Cannabist Company reported a 3% decline in Q2 revenue year-over-year, but reduced its net loss significantly. The company showed improvements in gross profit, Adjusted EBITDA, and cash from operations. Shares closed 1.70% lower at $0.23 per share.
While the company reported a decline in revenue, it managed to reduce its net loss and improve other financial metrics. The market reaction was slightly negative, with shares closing 1.70% lower. The overall impact on the stock price in the short term is likely neutral as the improvements may offset the revenue decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100