Q3 2023 Financial Highlights
- The vertically integrated cannabis operator reported $141.3 million in net revenue, up 27% from the same period last year and a 14.9% increase from the previous quarter.
- Net loss of $11.2 million during the quarter represented an improvement compared to $16.9 million in the third quarter of 2022.
- Retail revenue increased 22.3% year-over-year and 12.7% quarter-over-quarter to $101.3 million.
- Adjusted EBITDA came in positive at $29.5 million, representing a sequential increase of 38.5%.
- Adjusted EBITDA margin improved by 356 basis points sequentially.
- Gross profit was $43.6 million, or 30.8% of revenue, compared to $28.3 …