Earnings Call Summary | LOWELL FARMS INC(LOWLF.US) Q4 2023 Earnings Conference
Earnings Call Summary | LOWELL FARMS INC(LOWLF.US) Q4 2023 Earnings Conference
Q4 revenue was $7.5 million, a 21% sequential increase, but year-on-year it declined by 19%.The following is a summary of the Lowell Farms, Inc. (LOWLF) Q4 2023 Earnings Call Transcript:
以下是洛厄爾農場公司（LOWLF）2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Lowell Farms Inc reported a net loss of $13.1 million in Q4, a smaller loss compared to Q3, but larger than the same period last year.
The annual net revenue for 2023 was $28.3 million, a 35% decline from 2022.
Q4 revenue was $7.5 million, a 21% sequential increase, but year-on-year it declined by 19%.
Operating expenses decreased by 34% year over year, lowering from $3.4 million to $2.8 million.
Brand revenue for the year was notable with Lowell's own brands bringing in $13.8 million, third party brands contributing $2.5 million and the bulk flour revenue going up sequentially to $2 million.
The company managed to reduce its total liabilities by over $40 million during its restructuring process.
洛厄爾農場公司報告第四季度淨虧損1310萬美元，與第三季度相比虧損較小，但高於去年同期。
2023年的年淨收入爲2,830萬美元，比2022年下降了35％。
第四季度收入爲750萬美元，連續增長21％，但同比下降了19％。
運營費用同比下降34％，從340萬美元降至280萬美元。
該年度的品牌收入引人注目，洛厄爾的自有品牌帶來了1,380萬美元的收入，第三方品牌貢獻了250萬美元，散裝麪粉收入連續增長至200萬美元。
該公司在重組過程中設法將其總負債減少了4000多萬美元。
Business Progress:
業務進展：
Throughout 2023, Lowell Farms underwent restructuring to offset declining legal cannabis sales in California and is now focusing on manufacturing, distribution, and sales for owned and third-party cannabis brands, with a successful placing of these brands in over 650 dispensaries statewide.
The company processed approximately 116,762 pounds of third-party wet-weight flour in 2023, yielding around 5,720 pounds of finished flour, a significant increase from Q4 2022.
Lowell Farms aims to maintain lean operations for the forthcoming quarters while striving for revenue growth.
It also saw success with its consumer-packaged goods strategy, particularly with the Lowell Herb Co. brand, generating approximately $924,000 in revenue in Q4.
They are actively seeking synergies with other cannabis companies, advocating for consolidation and collaboration in the evolving California cannabis market.
在整個2023年，洛厄爾農場進行了重組，以抵消加利福尼亞州合法大麻銷售額的下降，現在專注於自有和第三方大麻品牌的製造、分銷和銷售，這些品牌成功地在全州650多家藥房中投放了這些品牌。
該公司在2023年加工了約116,762磅的第三方溼重麪粉，產量約爲5,720磅的成品麪粉，比2022年第四季度大幅增加。
洛厄爾農場的目標是在未來幾個季度保持精益運營，同時努力實現收入增長。
它的消費包裝商品戰略也取得了成功，尤其是Lowell Herb Co. 品牌在第四季度創造了約92.4萬美元的收入。
他們正在積極尋求與其他大麻公司的協同效應，主張在不斷變化的加利福尼亞大麻市場中進行整合與合作。
More details: LOWELL FARMS INC IR
更多詳情： 洛厄爾農場公司
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