4Front Ventures Corp.,(CSE: FFNT) (OTCQX: FFNTF) a vertically integrated cannabis operator, and retailer, reported its financial results late Monday for the first quarter that ended March 31, 2023
Main Takeaways
- 4Front's revenue growth was driven by increased sales in California and Massachusetts, offset by seasonality and market compression.
- Adjusted EBITDA was lower compared to the previous year but is expected to improve as the California business becomes a positive contributor and operations in Illinois expand.
- Systemwide Pro Forma Revenue for Q1 2023 reached $34.8 million, a 7% increase compared to Q1 2022.
- GAAP revenue grew by 17% year-over-year to $30.4 …