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.
加州大麻生產商布魯姆控股公司（場外交易代碼：BLMH）週二公佈了截至2023年12月31日的全年和第四季度的財務業績。
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.
該公司報告稱，由於 “表現不佳的分銷領域的戰略放緩”，收入同比下降36％，至3320萬美元。但是，該公司首席財務官帕蒂·陳表示，由於收入減少了1,880萬美元，毛利率僅下降了50萬美元。
"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.
陳說：“2023年對Blum Holdings來說是真正具有變革意義的一年，在此期間，公司專注於處置公司幾乎所有表現不佳的資產，大幅減少銷售、一般和管理費用，同時調整我們的戰略重點，將毛利率從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，該公司完成了其位於北加州的無利可圖種植設施的退出。
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.
本季度之後，Blum Holdings, Inc.成爲Unrivaled Brands, Inc.的母公司。1月，Unrivaled Brands表示已經結束了先前宣佈的戰略重組。
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.
隨着又一個業績季的結束，全國頂級大麻運營商的財務表現肯定會成爲本週在佛羅里達州舉行的Benzinga大麻資本會議的熱門話題之一。
Q4 2023 Financial Highlights
2023 年第四季度財務摘要
- 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.
- 收入穩定在810萬美元，毛利率從截至2023年9月30日的上一季度的51％增至54％。
- 毛利總額爲440萬美元，而上一季度爲420萬美元。
- 與上一季度相比，運營費用增長了23％，達到1,110萬美元。
- 持續經營業務的淨虧損爲960萬美元，高於第三財季的310萬美元。
FY 2023 Financial Highlights
2023 財年財務亮點
- 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.
- 毛利爲1770萬美元，低於2022年的1,810萬美元。
- 持續經營業務的淨虧損爲1,380萬美元，與去年同期的1.839億美元相比增長了93％。
- 調整後的持續經營業務息稅折舊攤銷前利潤虧損爲600萬美元，而去年調整後的息稅折舊攤銷前利潤虧損爲1,830萬美元。
- 與去年同期的640萬美元相比，持續經營業務中用於經營活動的現金下降了85％，至100萬美元。
BLMH Price Action
BLMH 價格走勢
Blüm Holdings' shares traded 12.36% lower at $0.78 per share after the market close on Monday.
週一收盤後，百隆控股的股價下跌12.36％，至每股0.78美元。
