Flora Growth Q2 Revenue Declines 27% YoY, Reduces Net Loss, Highlights Strategic Expansion In Germany, Australia And US
Flora Growth Q2 Revenue Declines 27% YoY, Reduces Net Loss, Highlights Strategic Expansion In Germany, Australia And US
Flora Growth Corp (NASDAQ:FLGC) (FSE:7301) reported its financial and operating results Monday for the second quarter ended June 30. The Florida-based cannabis company disclosed revenue of $15.68 million, down from $21.46 million in the same period last year.
Flora Growth Corp(纳斯达克股票代码:FLGC)(FSE: 7301)周一公布了截至6月30日的第二季度财务和经营业绩。这家总部位于佛罗里达州的大麻公司披露的收入为1,568万美元,低于去年同期的2146万美元。
As per the regulatory filing, the company attributed the revenue decline to JustCBD's performance in the quarter, which had $4.4 million in sales. In the same period of 2023, JustCBD had $9.0 million in sales. This performance was caused by the company's 2023 decision to discontinue several unprofitable product lines as well as growing competition and market saturation.
根据监管文件,该公司将收入下降归因于JustCBD在本季度的业绩,该季度的销售额为440万美元。在2023年同期,JustCBD的销售额为900万美元。这种表现是由该公司2023年决定停产几条无利可图的产品线,以及竞争加剧和市场饱和度造成的。
The earnings report comes shortly after company listed on the Frankfurt Stock Exchange, with the goal of connecting with European investors.
该收益报告是在公司在法兰克福证券交易所上市后不久发布的,目标是与欧洲投资者建立联系。
"In the second quarter of 2024, we at Flora, demonstrated an aptitude to make accretive acquisitions and form strategic partnerships to capitalize on the most robust market trends," stated CEO Clifford Starke.
首席执行官克利福德·斯塔克表示:“在2024年第二季度,我们在Flora表现出了进行增值收购和建立战略合作伙伴关系以利用最强劲的市场趋势的能力。”
Starke was referring to the company's acquisition of Germany-based TruHC Pharma GmbH in response to the country's recent cannabis reform. In the United States, Flora Growth entered into a joint venture with Althea Group Holdings to capitalize on the rapid growth in the beverages market.
斯塔克指的是该公司收购总部位于德国的TruHC Pharma GmbH,以应对该国最近的大麻改革。在美国,Flora Growth与Althea集团控股公司成立了一家合资企业,以利用饮料市场的快速增长。
"Our operating expenses and cash flows used in operating activities have decreased notably across the board compared to the prior period. We ended the quarter with cash of $6.1 million and set the stage for a wide array of financing alternatives to further fuel our business plan," Starke said.
“与前一时期相比,我们的运营费用和用于经营活动的现金流全面显著下降。我们在本季度末获得了610万美元的现金,为各种融资替代方案奠定了基础,以进一步推动我们的业务计划,” 斯塔克说。
Read Also: Global Weed Business: Flora Buys Australian Vaporizers As IM Cannabis Doubles Down On Germany
另请阅读:全球大麻业务:Flora购买澳大利亚蒸发器,因为我的大麻在德国翻了一番
Q2 Financial Summary
第二季度财务摘要
- Net loss of $2.66 million compared to a net loss of $44.56 million in the comparable quarter, an improvement of 94% quarter-over-quarter.
- Gross profit amounted to $3.17 million, compared to $3.96 million in the same period last year.
- Adjusted EBITDA was a loss of ($2.82 million), compared to an Adjusted EBITDA loss of ($3.91 million) in the comparable quarter.
- Total operating expenses were $6.7 million, compared to $44.0 million in the comparable quarter.
- Cash used in operating activities of $300,000, compared to cash used in operating activities of $3.5 million in the comparable quarter, an improvement of 91% quarter-over-quarter.
- 净亏损为266万美元,而同期净亏损为4,456万美元,同比增长94%。
- 毛利为317万美元,而去年同期为396万美元。
- 调整后的息税折旧摊销前利润为亏损(282万美元),而同期调整后的息税折旧摊销前利润亏损为391万美元。
- 总运营支出为670万美元,而同期为4,400万美元。
- 用于经营活动的现金为30万美元,而同期用于经营活动的现金为350万美元,同比增长91%。
JustCBD Highlights
JustCBD 亮
- Loss from continuing operations was $1.4 million and Adjusted EBITDA loss of $1.3 million in the quarter.
- Maintained a gross profit margin of 34% on sales of $4.4 million. Just International contributed $200,000 to sales across 11 countries.
- Approximately 41% of revenues stemmed from our direct-to-consumer model, while approximately 59% was generated through business-to-business sales.
- Over 120 new wholesale customers were added to our network in the quarter.
- 本季度持续经营亏损为140万美元,调整后的息税折旧摊销前利润亏损为130万美元。
- 销售额为440万美元,毛利率保持在34%。Just International为11个国家的销售额贡献了20万美元。
- 大约41%的收入来自我们的直接面向消费者的模式,而大约59%的收入来自企业对企业的销售。
- 在本季度,我们的网络中增加了120多名新的批发客户。
Price Action
价格走势
Flora Growth shares closed Monday's market session 1.07% lower at $0.93 per share.
Flora Growth股价周一收盘下跌1.07%,至每股0.93美元。
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Photo: Courtesy of C.Aphirak via Shutterstock
照片:由 C.Aphirak 通过 Shutterstock 提供
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