Cresco Labs Inc. (OTCQX: CRLBF) (CSE:CL) (FSE:6CQ) revenue increased 3% to $843 million for the full year ended December 31, 2022.
Fiscal Year 2022 Financial Highlights
-
Gross profit of $408 million compared to $406 million in FY 2021.
-
Gross margin of 48.4% compared to 49.5% in FY 2021.
-
Adjusted EBITDA of $174 million, compared to $194 million in FY 2021.
-
Net loss of $215 million for the full year included $141 million of one-time impairment charges, compared to net loss of $297 million in FY 2021.
Q4 2022 Financial Highlights
-
Fourth quarter revenue of $200 million, down 8% year-over-year.
-
Gross profit of $89 million compared to $110 million in Q4 2021.
-
Gross margin of 44.4% compared to 50.5% in Q4 2021.
-
Fourth quarter adjusted EBITDA of $31 million, compared to $57 million in Q4 2021.
-
Fourth quarter net loss of $180 million included $141 million of impairment charges, compared to a loss of $12 million in Q4 2021.
-
As of December 31, 2022, current assets were $327 million, including …