Multi-State Marijuana Operator 4Front Posts 31% YoY Lower Q2 Revenue, Sees Net Loss Reduction, Remains Focused On Illinois
Portfolio Pulse from Nina Zdinjak
4Front Ventures Corp. (OTCQX: FFNTF) reported a 31% YoY decrease in Q2 revenue to $18.7 million. Despite this, the company reduced its net loss to $4.87 million from $11.46 million last year. The Illinois facility saw a slight revenue drop but a 10% increase in wholesale revenue. Massachusetts showed a positive trend with a 31% growth in wholesale revenue. The company is expanding its Matteson, Illinois facility and introduced a new vape product. Shares closed 4.03% higher at $0.062.
August 15, 2024 | 12:55 pm
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4Front Ventures Corp. reported a 31% YoY decrease in Q2 revenue to $18.7 million but reduced its net loss to $4.87 million. The Illinois facility saw a slight revenue drop but a 10% increase in wholesale revenue. Massachusetts showed a 31% growth in wholesale revenue. The company is expanding its Matteson, Illinois facility and introduced a new vape product. Shares closed 4.03% higher at $0.062.
Despite a significant YoY revenue drop, the reduction in net loss and positive trends in wholesale revenue in key markets like Illinois and Massachusetts are encouraging. The expansion of the Matteson facility and the introduction of a new product also bode well for future growth. The market reacted positively, with shares closing 4.03% higher.
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