Medicine Man Technologies Inc., operating as Schwazze (OTCQX: SHWZ) (NEO: SHWZ), disclosed its financial and operational results for the third quarter ending September 30, 2023.
CEO Nirup Krishnamurthy highlighted the company's expanded retail footprint of 63 stores in Colorado and New Mexico, along with advancements in wholesale operations.
Key Financial Highlights
- Total Revenue: In Q3 2023, total revenue increased by 8% to $46.7 million, compared to $43.2 million in the same period last year. The growth was attributed to new store expansion and increased wholesale revenue, partially offset by pricing pressures in New Mexico.
- Gross Profit: Gross profit for Q3 2023 was $21.4 million or 45.9% of …