Zoned Properties, Inc. (OTCQB: ZDPY), a cannabis-focused real estate development firm reported its third quarter financial results on Tuesday for the three and nine-month period ended Sept. 30, 2023.
"We are delighted to report outstanding operating and financial performance for the third quarter whilst contending with challenging market conditions,” Bryan McLaren, CEO of Zoned Properties said.
Q3 2023 Financial Highlights
- Revenues were $720,450 compared to revenues of $614,988 for the same quarter of last year, representing an increase of 17.2%.
- Net income was $114,523 as compared to a net loss of $77,328 for the prior year’s period.
- Operating expenses were $671,338 compared to $660,251 for the third quarter of 2022, representing an increase of 1.7% year-over-year.
Nine Month Period Ended Sept. 30
Revenues were $2,181,091 compared to revenues of $2,052,341 for the nine months ended Sept. 30, 2022, representing an increase of 6.3%.
Net loss amounted to $152,966 for the nine months ended Sept. …