Blüm Cannabis Co. Reports 111% Increase In Q2 Revenue Following 'Transformative' Sale Of Santa Ana Dispensary
Portfolio Pulse from Jelena Martinovic
Blüm Holdings, Inc. (OTCQB:BLMH) reported a 111% increase in Q2 revenue following the sale of its Santa Ana dispensary. The sale significantly improved the company's balance sheet by reducing liabilities. Despite the revenue increase, the company reported a negative adjusted EBITDA.
August 15, 2024 | 4:48 pm
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Blüm Holdings reported a 111% increase in Q2 revenue and a significant reduction in liabilities following the sale of its Santa Ana dispensary. However, the company still reported a negative adjusted EBITDA.
The sale of the Santa Ana dispensary has significantly improved Blüm Holdings' financial position by reducing liabilities and boosting revenue. However, the negative adjusted EBITDA indicates ongoing operational challenges. The overall impact on the stock is likely positive due to the improved balance sheet and revenue growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100