Cresco Labs Inc. (OTCQX: CRLBF) (CSE:CL) (FSE:6CQ) released its financial and operating results for the first quarter ended March 31, 2023, revealing revenue of $194 million, a decrease of 9.4% compared to $214 million in Q1 2022.
Q1 2023 Financial Highlights
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Gross profit of $86 million compared to $107 million in Q1 2022.
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Gross profit margin of 44.2% compared to 50.1% in Q1 2022.
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Adjusted EBITDA of $29 million, compared to $51 million in Q1 2022.
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First quarter net loss of $28 million, compared to a net loss of $24 million in Q1 2022.
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As of March 31, 2023, current assets were $286 million, including cash, cash equivalents and restricted cash of $90 million. The …