Goodness Growth Holdings, Inc. (CSE: GDNS; OTCQX: GDNSF), a physician-led, science-focused cannabis company and IP incubator reported financial its results for the third quarter ended September 30, 2022.
Third Quarter 2022 Financial Summary
- Total revenue in the third quarter was $18.9 million, an increase of 41.0 percent as compared to Q3 2021.
- Retail revenue excluding Arizona increased 60.1 percent to $16.4 million in Q3 2022. Wholesale revenue excluding Arizona increased by 56.1 percent to $2.5 million.
- Gross profit $9.5 million, or 50.6 percent of revenue, as compared to gross profit of $5.1 million, or 38.3 percent of revenue in Q3 last year.
- Total operating expenses in the third quarter $9.7 million.
- Operating loss in the third quarter was $0.2 million, a decrease of $3.9 million compared to an operating loss of $4.1 million in Q3 last year.
- Total expenses were $7.6 million during Q3 2022, compared to $2.2 million in Q3 2021.
- Net loss in Q3 2022 was $8.4 …