Streetbeat News

Earnings

UGRO

urban-gro, Inc. (NASDAQ:UGRO) reported Q2 2023 financial results with revenue of $18.8 million, a 16% YoY increase. The company also reported a gross profit of $2.9 million, operating expenses of $6.8 million, and a net loss of $5.4 million. The company's cash position at the end of Q2 2023 was $8.6 million with no bank debt. The total backlog as of June 30, 2023, was approximately $79 million in contracts. UGRO shares were trading 3.26% higher at $1.2185 per share at the time of publishing.

Portfolio Pulse from Joana Scopel

August 15, 2023 | 1:20 am

CLVR

Clever Leaves Holdings Inc. (NASDAQ:CLVR) reported a 21% YoY increase in revenue and a 10% rise in gross profit for Q2 2023. The growth was driven by a 151% increase in the cannabinoid segment. Despite challenges, the company maintained solid margin performance in its non-cannabinoid business. The company also reported a 25% YoY reduction in operating expenses. CEO Andres Fajardo attributed the positive financial impact to restructuring initiatives, including the wind-down of its Portuguese operations.

Portfolio Pulse from Nicolás Jose Rodriguez

August 15, 2023 | 1:17 am

SHFS

Safe Harbor Financial (NASDAQ:SHFS) reported a 147% increase in Q2 2023 revenue to $4.6 million, and a 36% increase in total deposits to $1.1 billion. However, operating expenses expanded to $22.5 million from $1.5 million in Q2 2022, and the company reported a net loss of $17.6 million. SHF's stock was trading higher by 2.07% at market close on Monday.

Portfolio Pulse from Nicolás Jose Rodriguez

August 14, 2023 | 11:19 pm

DLTNF

Delta 9 Cannabis Inc. (OTC:DLTNF) reported a net loss of $3.4 million for Q2 2022, a significant increase from the $0.8 million loss in the same quarter last year. However, the company's net revenue grew by 4% year-on-year to CAD $17.5 million, and sequentially surged by 40% from the preceding quarter. The company's CEO highlighted growth opportunities, nationwide retail expansion, and strategic M&A pursuits supported by a solid balance sheet.

Portfolio Pulse from Nicolás Jose Rodriguez

August 14, 2023 | 11:16 pm

CEAD

CEA Industries Inc. (NASDAQ:CEAD) reported Q2 2023 financial results, revealing a decrease in revenue and gross profit compared to the same period in 2022. The company's net loss improved, and operating expenses were reduced by 62%. The company's net bookings and backlog also decreased, primarily due to fewer capital projects and expenditures by cannabis operators. Despite these results, CEAD shares were trading 2.53% higher at market close on Monday.

Portfolio Pulse from Joana Scopel

August 14, 2023 | 11:11 pm

DGLY

Digital Ally reported Q2 losses of $(3.01) per share, a significant increase from $(0.44) per share last year. The company's quarterly sales of $8.28 million missed the analyst consensus estimate of $9.63 million by 14.03 percent, marking an 11.46 percent decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 10:12 pm

TILT

TLLTF

TILT Holdings Inc. reported Q2 2023 results with revenue of $41.6 million, down from $47.1 million in the prior year. The company has implemented cost-saving measures and efficiency improvements, expecting to save approximately $8 million annually starting Q3 2023. The net loss was $26.9 million, largely due to $15.7 million of non-cash write-down expenses. The company's shares were trading 4.41% down at market close.

Portfolio Pulse from Joana Scopel

August 14, 2023 | 10:12 pm

IONM

Assure Holdings reported Q2 losses of $(1.63) per share, an improvement from $(7.32) per share last year. However, the company's quarterly sales of $1.54 million missed the analyst consensus estimate of $5.20 million by 70.33 percent, marking a 6.20 percent decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 10:08 pm

CYBN

Cybin (NYSE:CYBN) has released its Q1 2023 financial results, showing a total cash of $6.9 million, a decrease of 20.5% from the previous year. The company's R&D expenses were $4.7 million, slightly higher than the $4.5 million spent in the same period in 2022. Cybin is currently developing CYB003 and CYB004, treatments for Major Depressive Disorder and Generalized Anxiety Disorder respectively. The company expects topline data for both programs later this year.

Portfolio Pulse from Lara Goldstein

August 14, 2023 | 10:08 pm

SHFS

SHF Hldgs (NASDAQ:SHFS) reported Q2 losses of $(0.40) per share, with sales of $4.57 million, a 146.79% increase from $1.85 million in the same period last year.

Portfolio Pulse from bharat@benzinga.com

August 14, 2023 | 10:06 pm