California Cannabis Co. Blüm Reports 36% YoY Drop In 2023 Revenue, Narrows Net Loss By 93%
California Cannabis Co. Blüm Reports 36% YoY Drop In 2023 Revenue, Narrows Net Loss By 93%
During the fourth quarter the company completed the exit of its unprofitable cultivation facility in Northern California.California cannabis producer Blüm Holdings Inc. (OTCQB:BLMH) announced on Tuesday financial results for the full year and fourth quarter ended Dec. 31, 2023.
加州大麻生产商布鲁姆控股公司（场外交易代码：BLMH）周二公布了截至2023年12月31日的全年和第四季度的财务业绩。
The company reported a 36% year-over-year drop in revenue to $33.2 million, due to a "strategic slowdown in its underperforming distribution segment." However, the company's CFO Patty Chan said the decrease in gross margin was only $0.5 million on a revenue decrease of $18.8 million.
该公司报告称，由于 “表现不佳的分销领域的战略放缓”，收入同比下降36％，至3320万美元。但是，该公司首席财务官帕蒂·陈表示，由于收入减少了1,880万美元，毛利率仅下降了50万美元。
"2023 was a truly transformative year for Blüm Holdings during which the Company focused on disposing nearly all the company's underperforming assets and significantly reducing selling, general, and administrative expenses while simultaneously realigning our strategic focus to increasing our gross margin from 35% in 2022 to 53% in 2023," Chan said.
陈说：“2023年对Blum Holdings来说是真正具有变革意义的一年，在此期间，公司专注于处置公司几乎所有表现不佳的资产，大幅减少销售、一般和管理费用，同时调整我们的战略重点，将毛利率从2022年的35％提高到2023年的53％。”
During the fourth quarter the company completed the exit of its unprofitable cultivation facility in Northern California.
在第四季度，该公司完成了其位于北加州的无利可图种植设施的退出。
Subsequent to the quarter, Blüm Holdings, Inc. became a parent company of Unrivaled Brands, Inc. In January, Unrivaled Brands, said it had wrapped up its previously announced strategic reorganization.
本季度之后，Blum Holdings, Inc.成为Unrivaled Brands, Inc.的母公司。1月，Unrivaled Brands表示已经结束了先前宣布的战略重组。
As another earnings season wraps up, the financial performance of top cannabis operators nationwide will surely be one of the hot topics at this week's Benzinga Cannabis Capital Conference in Florida.
随着又一个财报季的结束，全国顶级大麻运营商的财务表现肯定会成为本周在佛罗里达州举行的Benzinga大麻资本会议的热门话题之一。
Q4 2023 Financial Highlights
2023 年第四季度财务摘要
- Revenues remained steady at $8.1 million, with gross margin increasing to 54% from 51% in the prior quarter ended Sept. 30, 2023.
- Gross profit totaled $4.4 million, compared to $4.2 million in the prior quarter.
- Operating expenses increased by 23% to $11.1 million compared to the consecutive prior quarter.
- Net loss from continuing operations was $9.6 million, an increase from $3.1 million in the fiscal third quarter.
- 收入稳定在810万美元，毛利率从截至2023年9月30日的上一季度的51％增至54％。
- 毛利总额为440万美元，而上一季度为420万美元。
- 与上一季度相比，运营费用增长了23％，达到1,110万美元。
- 持续经营业务的净亏损为960万美元，高于第三财季的310万美元。
FY 2023 Financial Highlights
2023 财年财务亮点
- Gross profit was $17.7 million, down from $18.1 million in 2022.
- Net loss from continuing operations was $13.8 million, an improvement of 93% compared to $183.9 million from the prior year.
- Adjusted EBITDA loss from continuing operations, a non-GAAP measure was $6 million, compared to adjusted EBITDA loss of 18.3 million in the prior year.
- Cash used in operating activities from continuing operations decreased 85% to $1 million compared to $6.4 million in the prior year.
- 毛利为1770万美元，低于2022年的1,810万美元。
- 持续经营业务的净亏损为1,380万美元，与去年同期的1.839亿美元相比增长了93％。
- 调整后的持续经营业务息税折旧摊销前利润亏损为600万美元，而去年调整后的息税折旧摊销前利润亏损为1,830万美元。
- 与去年同期的640万美元相比，持续经营业务中用于经营活动的现金下降了85％，至100万美元。
BLMH Price Action
BLMH 价格走势
Blüm Holdings' shares traded 12.36% lower at $0.78 per share after the market close on Monday.
周一收盘后，百隆控股的股价下跌12.36％，至每股0.78美元。
