The following is a summary of the Cansortium Inc. (CNTMF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Cansortium reported a Q4 increase in revenue by 9% to $25.5 million, mainly due to new dispensaries in Florida and higher patient counts.

• The adjusted gross profit for the quarter was 49.4% of revenue, reaching $12.6 million.

• Positive cash flow from operations was reported for the ninth consecutive quarter, amounting to $1.4 million in Q4.

• The increased customer transactions throughout 2023 resulted in Adjusted EBITDA of $27.2 million, compared to $25 million in the previous year.

Business Progress:

• Cansortium opened four new dispensaries in Florida during 2023, anticipating potential expansion into the adult-use market.

• The company witnessed substantial growth in the Texas market, credited to increases in retail volume and patient growth, predominantly in the Houston area.

• Cansortium initiated strategic partnerships with wholesale suppliers in Pennsylvania, making them competitively priced in the market.

• Development plans include opening an education center in Houston by 2025 and the expected operational contribution from the 'Rosa' facility in Q4 2024.

More details: CANSORTIUM INC IR

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