SLANG Worldwide Announces Q4 and Year-End 2023 Financial Results
SLANG Worldwide Announces Q4 and Year-End 2023 Financial Results
Achieved adjusted gross profit margin1 of approximately 51% in Q4 FY2023 and 52% in FY2023
实现调整后的毛利率1 FY2023 第四季度约为 51%，FY2023 为 52%
Operating Expenses decreased approximately 19% in Q4 FY2023 and 21% in FY2023
FY2023 第四季度的运营支出下降了约19％，FY2023 的运营支出下降了21％
Increased annual adjusted gross profit1 by 6%
年度调整后毛利增加1 上涨6％
Launched wholesale offering in Vermont to capitalize on increase in licensed retail businesses
在佛蒙特州推出批发服务，以利用持牌零售业务的增长
Toronto, Ontario--(Newsfile Corp. - April 12, 2024) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today released financial results for the three and twelve months ended December 31, 2023. All figures in this press release are stated in Canadian dollars unless otherwise noted.
安大略省多伦多--（Newsfile Corp.，2024年4月12日）——拥有多元化流行品牌组合的全球领先的大麻消费包装制品（CPG）公司SLANG Worldwide Inc.（CNSX：SLNG）（OTCQB：SLGWF）（“SLANG” 或 “公司”）今天公布了截至2023年12月31日的三个月和十二个月的财务业绩。除非另有说明，否则本新闻稿中的所有数字均以加元表示。
"In 2023, we took a deliberate approach to advancing our strategy of profitable growth, creating a leaner, more nimble SLANG. As a result, we ended the year with increased gross profit, higher margins, and lower operating expenses which resulted in significantly lower total comprehensive loss and lower adjusted EBITDA loss," commented John Moynan, Chief Executive Officer of SLANG. "With the fourth quarter historically our seasonally lowest revenue quarter, we took the opportunity to further fortify our business and refine our product offering, which will help us make meaningful progress on the path to profitability."
“2023年，我们采取了深思熟虑的方法来推进我们的盈利增长战略，创造了一个更精简、更灵活的俚语。因此，我们在年底实现了毛利增加、利润率提高和运营费用降低，这导致综合亏损总额大幅降低，调整后的息税折旧摊销前利润亏损降低。” SLANG首席执行官约翰·莫伊南评论道。“由于第四季度是历史上收入最低的季度，我们借此机会进一步巩固了业务并完善了我们的产品供应，这将帮助我们在盈利道路上取得有意义的进展。”
Moynan continued, "Throughout 2023, we continued to set ourselves apart from other cannabis players by strategically identifying and advancing opportunities in both our core and emerging markets to build our brand and drive continued financial growth. Initiatives such as our disposable and large-format vaporizers in Colorado, the build-out of our wholesale channel in Vermont, and the expansion of our THC-Free product portfolio have proved successful and will be key contributors to our ongoing growth. Looking to 2024, I believe that we are well positioned to outperform the market as we continue to identify opportunities to increase shareholder value as part of our strategic review."
莫伊南继续说：“在整个2023年，我们通过战略性地确定和推进核心和新兴市场的机会，建立我们的品牌并推动持续的财务增长，从而继续将自己与其他大麻企业区分开来。事实证明，我们在科罗拉多州的一次性和大幅面蒸发器、在佛蒙特州扩大批发渠道以及扩大我们的无四氢大麻酚产品组合等举措是成功的，并将成为我们持续增长的关键因素。展望2024年，我相信随着我们在战略审查中继续寻找增加股东价值的机会，我们完全有能力跑赢市场。”
Full Year 2023 Financial and Operational Summary
2023 年全年财务和运营摘要
- Revenue from continuing operations for the year ended December 31, 2023 ("FY 2023") was $35.68 million, compared with $38.19 million in the year ended December 31, 2022 ("FY 2022"), representing a 7% decrease year-over-year. The reduction was primarily driven by a decrease of $2.65 million in our Distribution sales and a decrease of $1.27 million in Emerging Market sales, partially offset by an increase of $0.70 million in Core Market sales and an increase of $0.66 million in e-commerce sales. Within the Core Market segment, the Company experienced growth in Vermont, with sales increasing by $3.06 million, which is offset by a reduction of $2.36 million in sales in Colorado.
- Gross profit of $18.62 million (52% gross margin) in FY 2023, compared with $16.45 million (43% gross margin) in FY 2022, representing a 13% increase in gross profit and a 9% increase in gross margin year-over-year. Gross profit before fair value of biological assets was $18.68 million (52% gross margin) in FY 2023, compared with $17.62 million (46% gross margin) in FY 2022, representing a 6% increase in gross profit and a 6% increase in gross margin year-over-year.
- Operating expenses of $24.61 million in FY 2023, compared with $31.33 million in FY 2022, representing a 21% decrease year-over-year. The reduction was primarily driven by a decrease in depreciation and amortization, share based payments, salaries and wages and consulting and subcontractors.
- Total comprehensive loss of $19.59 million in FY 2023, compared with $29.65 million in FY 2022, representing a 34% decrease year-over-year. The reduction was primarily driven by a decrease in operating expenses of $6.73 million and an increase in gross profit of $2.17 million.
- EBITDA1 of ($3.05 million) in FY 2023, compared with ($8.71 million) in FY 2022. The improvement in EBITDA is primarily attributable to a $2.14 million increase in gross profit (excluding depreciation costs), and a reduction of $3.52 million in operating expenses (excluding depreciation) such as share based payments, insurance, salaries and wages, and consulting and subcontractors.
- Adjusted EBITDA1 of ($1.90 million) in FY 2023, compared with ($3.65 million) in FY 2022. The improvement in Adjusted EBITDA is primarily attributable to an increase of $1.02 million in gross profit before fair value adjustments of biological assets (excluding depreciation costs), and a reduction of $0.73 million in operating expenses (excluding depreciation expenses, expected credit losses and share based payments).
- $9.04 million in cash and restricted cash on December 31, 2023, compared to $11.92 million on December 31, 2022. Additionally, for the twelve months ended December 31, 2023, cash flows used in continuing operating activities was ($2.62 million), compared to cash flows used in continuing operating activities of ($3.13 million) for the twelve months ended December 31, 2022, an improvement of $0.51 million.
- Various SLANG subsidiaries filed for the Employee Retention Tax Credit ("ERTC")2 with the Internal Revenue Service ("IRS") in April 2023. During FY 2023, the Company received $1.63 million in ERTCs and $0.09 million in interest on ERTCs.
- In June 2023, the Company launched a new two-gram disposable cartridge in Colorado. For the year ended December 31, 2023, the sales of these products totaled approximately $1.62 million.
- The Company built a new wholesale revenue stream in Vermont as more Vermont retailers received retail licenses. In FY 2023, wholesale sales to Vermont retailers reached $1.04 million.
- 截至2023年12月31日的财年（“2023财年”）的持续经营收入为3568万美元，而截至2022年12月31日的财年（“2022财年”）为3,819万美元，同比下降7％。下降的主要原因是我们的分销销售额减少了265万美元，新兴市场销售额减少了127万美元，但部分被核心市场销售额增长70万美元和电子商务销售额增加66万美元所抵消。在核心市场领域，公司在佛蒙特州的销售额增长了306万美元，但科罗拉多州销售额减少的236万美元抵消了这一增长。
- 2023财年的毛利为1,862万美元（毛利率为52％），而2022财年的毛利率为1,645万美元（毛利率为43％），毛利同比增长13％，毛利率增长9％。2023财年，生物资产不计公允价值的毛利为1,868万美元（毛利率为52％），而2022财年为1762万美元（毛利率为46％），毛利率同比增长6％，毛利率同比增长6％。
- 2023财年的运营支出为2461万美元，而2022财年为3,133万美元，同比下降21％。减少的主要原因是折旧和摊销、基于股份的付款、工资和工资以及咨询和分包商的减少。
- 2023财年的综合亏损总额为1,959万美元，而2022财年为2965万美元，同比下降34％。减少的主要原因是运营支出减少了673万美元，毛利增加了217万美元。
- EBITDA1 2023财年为（305万美元），而2022财年为871万美元。息税折旧摊销前利润的改善主要归因于毛利增长了214万美元（不包括折旧成本），以及运营费用（不包括折旧）减少了352万美元（不包括折旧），例如基于股份的付款、保险、工资和工资以及咨询和分包商。
- 调整后 EBITDA1 2023财年为（190万美元），而2022财年为365万美元。调整后息税折旧摊销前利润的改善主要归因于生物资产公允价值调整前的毛利增加了102万美元（不包括折旧成本），以及运营费用（不包括折旧费用、预期信贷损失和基于股份的付款）减少了73万美元。
- 2023年12月31日的现金和限制性现金为904万美元，而2022年12月31日为1192万美元。此外，在截至2023年12月31日的十二个月中，用于持续经营活动的现金流为（262万美元），而截至2022年12月31日的十二个月中用于持续经营活动的现金流为（313万美元），增长了51万美元。
- 多家SLANG子公司申请了员工留用税收抵免（“ERTC”）2 2023 年 4 月加入美国国税局（“IRS”）。在2023财年，公司获得了163万美元的ERTC和ERTC的09万美元利息。
- 2023 年 6 月，该公司在科罗拉多州推出了一款新的两克一次性墨盒。在截至2023年12月31日的年度中，这些产品的总销售额约为162万美元。
- 随着越来越多的佛蒙特州零售商获得零售许可，该公司在佛蒙特州建立了新的批发收入来源。2023财年，佛蒙特州零售商的批发销售额达到104万美元。
Recent Corporate Developments
近期企业动态
- In January 2024, the Company announced that it launched its vape brand, O.pen, in Arizona through a strategic partnership with Trulieve Cannabis Corp.
- The Company announced in November 2023 that it has retained PGP Capital Advisors, LLC, to assist in a review of its strategic alternatives.
- In October 2023, SLANG launched sales of its O.pen Sesh, an electric dab rig compatible with 510-thread cartridges and concentrates.
- The Company launched its first line of fast-acting cannabis-infused gummies in July 2023 under its Alchemy Naturals all-natural THC gummy brand at dispensaries across Vermont.
- SLANG launched a brand new O.pen product line in July and started selling two-gram delta-8 all-in-one vaporizers in five different strains.
- 2024年1月，该公司宣布通过与Trulieve Cannabis Corp的战略合作伙伴关系，在亚利桑那州推出了其电子烟品牌O.pen。
- 该公司在2023年11月宣布，已聘请PGP Capital Advisors, LLC，以协助审查其战略选择。
- 2023 年 10 月，SLANG 开始销售其 O.pen Sesh，这是一款兼容 510 个螺纹的弹药筒和浓缩液的电动轻拍装置。
- 该公司于2023年7月在佛蒙特州的药房以其Alchemy Naturals全天然四氢大麻酚软糖品牌推出了第一系列注入大麻的速效软糖。
- SLANG于7月推出了全新的O.pen产品线，并开始销售五种不同菌株的两克delta-8多合一蒸发器。
Fourth Quarter 2023 Financial Summary
2023 年第四季度财务摘要
- Revenue from continuing operations for the three months ended December 31, 2023 ("Q4 2023") was $7.42 million, compared with $11.78 million for the three months ended December 31, 2022 ("Q4 2022"), representing a 37% decrease year-over-year. The reduction was primarily driven by a decrease of $4.13 million in Core Market sales and a decrease of $0.92 million in Distribution sales, partially offset by an increase of $0.30 million in Emerging Market sales, and an increase of $0.30 million in e-commerce sales. Within the Core Market segment, the Company experienced sales reductions in Vermont of $2.47 million, and in Colorado of $1.66 million.
- Gross profit of $3.80 million (51% gross margin) in Q4 2023, compared with $4.70 million (40% gross margin) in Q4 2022, representing a 19% decrease in gross profit and a 11% increase in gross margin year-over-year. Gross profit before fair value of biological assets was $3.80 million (51% gross margin) in Q4 2023, compared with $5.70 million (48% gross margin) in Q4 2022, representing a 33% decrease in gross profit and a 3% increase in gross margin year-over-year.
- Operating expenses of $6.63 million in Q4 2023, compared with $8.17 million in Q4 2022, representing a 19% decrease year-over-year. The reduction was primarily driven by a decrease in salaries and wages, depreciation and amortization, share based payments, and consulting and subcontractors.
- Total comprehensive loss of $7.45 million in Q4 2023, compared with $16.96 million in Q4 2022, representing a 56% decrease year-over-year. The reduction was primarily driven by a decrease of $14.83 million in impairment and $1.54 million in operating expenses partially offset by higher financing cost and fair value adjustments of $7.26 million and a decrease in gross profit of $0.90 million.
- EBITDA1 of ($2.09 million) in Q4 2023, compared with ($1.82 million) in Q4 2022. The reduction in EBITDA is primarily attributable to a $1.07 million decrease in gross profit (excluding depreciation costs), offset by a reduction of $0.81 million in operating expenses (excluding depreciation) such as salaries and wages, consulting and subcontractors, share based payments, and insurance.
- Adjusted EBITDA1 of ($1.48 million) in Q4 2023, compared with ($0.06 million) in Q4 2022. The reduction in Adjusted EBITDA is primarily attributable to a decrease of $2.07 million in gross profit before fair value adjustments of biological assets (excluding depreciation costs), offset by a reduction of $0.65 million in operating expenses (excluding depreciation expenses, expected credit losses and share based payments).
- 截至2023年12月31日的三个月（“2023年第四季度”）的持续经营业务收入为742万美元，而截至2022年12月31日的三个月（“2022年第四季度”）为1178万美元，同比下降37％。下降的主要原因是核心市场销售额减少了413万美元，分销销售额减少了92万美元，但新兴市场销售额增加30万美元和电子商务销售额增加30万美元部分抵消。在核心市场领域，该公司在佛蒙特州的销售额减少了247万美元，科罗拉多州的销售额减少了166万美元。
- 2023年第四季度的毛利为380万美元（毛利率为51％），而2022年第四季度为470万美元（毛利率为40％），毛利率同比下降19％，毛利率同比增长11％。2023年第四季度生物资产不计公允价值的毛利为380万美元（毛利率为51％），而2022年第四季度为570万美元（毛利率48％），毛利率同比下降33％，毛利率同比增长3％。
- 2023年第四季度的运营支出为663万美元，而2022年第四季度为817万美元，同比下降19％。减少的主要原因是工资和工资的减少、折旧和摊销、股份支付以及咨询和分包商。
- 2023年第四季度的综合亏损总额为745万美元，而2022年第四季度为1,696万美元，同比下降56％。减少的主要原因是减值减少了1483万美元，运营费用减少了154万美元，部分被融资成本和公允价值调整增加的726万美元以及毛利减少90万美元所抵消。
- EBITDA1 2023年第四季度为（209万美元），而2022年第四季度为182万美元。息税折旧摊销前利润减少的主要原因是毛利减少了107万美元（不包括折旧成本），但被工资和工资、咨询和分包商、股份付款和保险等运营支出（不包括折旧）减少的81万美元所抵消。
- 调整后 EBITDA1 2023年第四季度为（148万美元），而2022年第四季度为（60万美元）。调整后息税折旧摊销前利润的减少主要是由于生物资产公允价值调整前的毛利减少了207万美元（不包括折旧成本），但被运营支出（不包括折旧费用、预期信贷损失和基于股份的付款）减少的65万美元所抵消。
Full Year 2023 Financial Review
2023 年全年财务回顾
The consolidated financial statements were prepared in accordance with IFRS. The following is a selected presentation of the Income Statement for the three and twelve months ended December 31, 2023.
合并财务报表是按照《国际财务报告准则》编制的。以下是截至2023年12月31日的三个月和十二个月损益表的精选列报方式。
| (In thousands of Canadian dollars except per share data and percentages) | For the three months ended | For the twelve months ended | ||||||||||
| 31-Dec-23 | 31-Dec-22 | 31-Dec-23 | 31-Dec-22 | |||||||||
| Net Operating Revenue From Continuing Operations |
7,419 |
11,777 |
35,682 |
38,189 |
||||||||
| Cost of goods sold | 3,618 |
6,077 |
17,007 |
20,566 |
||||||||
| Gross Profit Before Fair Value Adjustment of Biological Assets |
3,801 |
5,700 |
18,675 |
17,623 |
||||||||
| Realized fair value amounts included in inventory sold | (705) | (1,298) | (2,112) | (2,976) | ||||||||
| Unrealized gain on changes in fair value of biological assets | 700 |
293 |
2,056 |
1,799 |
||||||||
| Gross Profit |
3,796 |
4,695 |
18,619 |
16,446 |
||||||||
| Gross Profit Margin |
51% |
40% |
52% |
43% |
||||||||
| Operating expenses | 6,632 |
8,167 |
24,606 |
31,332 |
||||||||
| Operating Loss | (2,836) | (3,472) | (5,988) | (14,886) | ||||||||
| Other items (Impairment, FV adjustment, FX, gains/losses, taxes, etc.) | (4,616) | (13,483) | (13,597) | (14,768) | ||||||||
| Total Comprehensive Loss | (7,452) | (16,955) | (19,585) | (29,654) | ||||||||
| Earnings Per Share From Continuing Operations | |
|
|
|
||||||||
| Basic | (0.05) | (0.15) | (0.10) | (0.29) | ||||||||
| Diluted | (0.05) | (0.15) | (0.10) | (0.29) | ||||||||
| （以千加元计，每股数据和百分比除外） | 在结束的三个月里 | 在截至的十二个月中 | ||||||||||
| 12 月 31 日至 23 日 | 12 月 31 日至 22 日 | 12 月 31 日至 23 日 | 12 月 31 日至 22 日 | |||||||||
| 来自持续经营的净营业收入 |
7,419 |
11,777 |
35,682 |
38,189 |
||||||||
| 销售商品的成本 | 3,618 |
6,077 |
17,007 |
20,566 |
||||||||
| 生物资产公允价值调整前的毛利 |
3,801 |
5,700 |
18,675 |
17,623 |
||||||||
| 已售库存中包含的已实现公允价值金额 | (705) | (1,298) | (2,112) | (2,976) | ||||||||
| 生物资产公允价值变动产生的未实现收益 | 700 |
293 |
2,056 |
1,799 |
||||||||
| 毛利 |
3,796 |
4,695 |
18,619 |
16,446 |
||||||||
| 毛利率 |
51% |
40% |
52% |
43% |
||||||||
| 运营费用 | 6,632 |
8,167 |
24,606 |
31,332 |
||||||||
| 营业亏损 | (2,836) | (3,472) | (5,988) | (14,886) | ||||||||
| 其他项目（减值、FV 调整、外汇、收益/亏损、税收等） | (4,616) | (13,483) | (13,597) | (14,768) | ||||||||
| 综合损失总额 | (7,452) | (16,955) | (19,585) | (29,654) | ||||||||
| 持续经营的每股收益 | |
|
|
|
||||||||
| 基本 | (0.05) | (0.15) | (0.10) | (0.29) | ||||||||
| 稀释 | (0.05) | (0.15) | (0.10) | (0.29) | ||||||||
| (In thousands of Canadian dollars except percentages) | For the three months ended | For the twelve months ended | ||||||||||
| 31-Dec-23 | 31-Dec-22 | 31-Dec-23 | 31-Dec-22 | |||||||||
| Net Operating Revenue From Continuing Operations |
7,419 |
11,777 |
35,682 |
38,189 |
||||||||
| Cost of Goods Sold | 3,618 |
6,077 |
17,007 |
20,566 |
||||||||
| Realized fair value amounts included in inventory sold | (705) | (1,298) | (2,112) | (2,976) | ||||||||
| Unrealized gain on fair value of biological assets | 700 |
293 |
2,056 |
1,799 |
||||||||
| Cost of Goods Sold |
3,623 |
7,082 |
17,063 |
21,743 |
||||||||
| Gross Profit |
3,796 |
4,695 |
18,619 |
16,446 |
||||||||
| Gross Profit Margin |
51% |
40% |
52% |
43% |
||||||||
| Gross Profit before FV adjustment |
3,801 |
5,700 |
18,675 |
17,623 |
||||||||
| Gross Profit Margin before FV adjustment |
51% |
48% |
52% |
46% | ||||||||
| （以千加元计，百分比除外） | 在结束的三个月里 | 在截至的十二个月中 | ||||||||||
| 12 月 31 日至 23 日 | 12 月 31 日至 22 日 | 12 月 31 日至 23 日 | 12 月 31 日至 22 日 | |||||||||
| 来自持续经营的净营业收入 |
7,419 |
11,777 |
35,682 |
38,189 |
||||||||
| 售出商品的成本 | 3,618 |
6,077 |
17,007 |
20,566 |
||||||||
| 已售库存中包含的已实现公允价值金额 | (705) | (1,298) | (2,112) | (2,976) | ||||||||
| 生物资产公允价值的未实现收益 | 700 |
293 |
2,056 |
1,799 |
||||||||
| 售出商品的成本 |
3,623 |
7,082 |
17,063 |
21,743 |
||||||||
| 毛利润 |
3,796 |
4,695 |
18,619 |
16,446 |
||||||||
| 毛利率 |
51% |
40% |
52% |
43% |
||||||||
| FV 调整前的毛利 |
3,801 |
5,700 |
18,675 |
17,623 |
||||||||
| FV 调整前的毛利率 |
51% |
48% |
52% |
46% | ||||||||
| (In thousands of Canadian dollars) | For the three months ended | For the twelve months ended | | |||||||||
| 31-Dec-23 | 31-Dec-22 | 31-Dec-23 | 31-Dec-22 | | ||||||||
| Total Comprehensive Loss | (7,452) | (16,955) | (19,585) | (29,654) | ||||||||
| EBITDA (Non-IFRS) | (2,087) | (1,822) | (3,052) | (8,710) | ||||||||
| Adjusted EBITDA (Non-IFRS) | (1,478) | (56) | (1,902) | (3,645) | ||||||||
| （以千加元计） | 在结束的三个月里 | 在截至的十二个月中 | | |||||||||
| 12 月 31 日至 23 日 | 12 月 31 日至 22 日 | 12 月 31 日至 23 日 | 12 月 31 日至 22 日 | | ||||||||
| 综合亏损总额 | (7,452) | (16,955) | (19,585) | (29,654) | ||||||||
| 息税折旧摊销前利润（非国际财务报告准则） | (2,087) | (1,822) | (3,052) | (8,710) | ||||||||
| 调整后的息税折旧摊销前利润（非国际财务报告准则） | (1,478) | (56) | (1,902) | (3,645) | ||||||||
See the Company's management's discussion and analysis for the three and full year ended December 31, 2023 (the "Q4 2023 MD&A") for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and the Q4 2023 MD&A are available on SEDAR+ at , and on the Company's Investor Relations website at .
有关息税折旧摊销前利润和调整后息税折旧摊销前利润与营业收入/（亏损）的详细对账情况，请参阅公司管理层对截至2023年12月31日的三年和全年财年的讨论和分析（“2023年第四季度MD&A”）。SLANG的财务报表和2023年第四季度的管理层与分析可在SEDAR+上查阅，也可以在公司的投资者关系网站上查阅，网址为。
Non-IFRS Measures
非国际财务报告准则指标
EBITDA, Adjusted EBITDA, adjusted gross profit and adjusted gross margin are non-IFRS financial measures that the Company uses to assess its operating performance. EBITDA is defined as net earnings (loss) before net finance costs, income tax expense (benefit) and depreciation and amortization expense. Management defines Adjusted EBITDA as EBITDA adjusted for other non-cash items such as the impact of unrealized fair values, share based compensation expense, impairments, one-time gains and losses, and one-time revenues and expenses. Management defines adjusted gross profit as gross profit before fair value adjustment of biological assets. Management defines adjusted gross margin as gross margin before fair value adjustment of biological assets. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by IFRS. The Company uses these non-IFRS measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. As other companies may calculate these non-IFRS measures differently than the Company, these metrics may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities.
息税折旧摊销前利润、调整后息税折旧摊销前利润、调整后毛利率是公司用来评估其经营业绩的非国际财务报告准则财务指标。息税折旧摊销前利润定义为扣除净财务成本、所得税支出（收益）以及折旧和摊销费用前的净收益（亏损）。管理层将调整后的息税折旧摊销前利润定义为经其他非现金项目调整的息税折旧摊销前利润，例如未实现公允价值的影响、基于股份的薪酬支出、减值、一次性损益以及一次性收入和支出。管理层将调整后的毛利定义为生物资产公允价值调整前的毛利。管理层将调整后的毛利率定义为生物资产公允价值调整前的毛利率。提供这些数据是为了提供更多信息，是非国际财务报告准则的指标，不具有《国际财务报告准则》规定的任何标准化含义。公司使用这些非国际财务报告准则指标为股东和其他人提供其经营业绩的补充衡量标准。该公司还认为，证券分析师、投资者和其他利益相关方在评估公司时经常使用这些非国际财务报告准则指标，其中许多公司在报告业绩时给出了相似的指标。由于其他公司计算这些非国际财务报告准则指标的方法可能与公司不同，因此这些指标可能无法与其他公司报告的类似标题的指标进行比较。我们提醒读者，调整后的息税折旧摊销前利润不应取代将净亏损确定为经营业绩的指标，或作为经营和投资活动现金流的替代品。
Conference Call Details
电话会议详情
Management plans to host an investor conference call on April 12, 2024 at 10:00 am ET to discuss the results.
管理层计划在美国东部时间2024年4月12日上午10点举行投资者电话会议，讨论结果。
Timing: Friday, April 12, 2024 at 10:00 am ET
Dial In: 1-(888) 440-5983 (US toll-free) or 1-(646) 960-0202 (international)
Conference ID: 6291438
Webcast: A live webcast can be accessed via the Company's website at or
时机： 美国东部时间 2024 年 4 月 12 日星期五上午 10:00
拨入： 1-(888) 440-5983（美国免费电话）或 1-(646) 960-0202（国际）
会议编号： 6291438
网络直播： 可以通过公司的网站观看网络直播，网址为
About SLANG Worldwide Inc.
SLANG Worldwide Inc. is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the U.S. Operating in 13 legal cannabis markets nationwide, SLANG specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The Company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the SLANG playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres, Firefly, and partnerships with brands like Greenhouse Seed Company have a proven track record of success with the brands consistently ranking among the top performers in the states where SLANG operates. Learn more at slangww.com.
关于 SLANG 全球公司
SLANG Worldwide Inc. 是品牌大麻消费包装产品的行业领导者，其多元化产品组合由五个不同的品牌和产品组成，分布在美国的13个合法大麻市场开展业务，专门收购和开发经过市场验证的区域品牌，并推出创新的新品牌以抓住全球市场机会并满足不断变化的消费者口味。该公司在新兴且受到严格监管的大麻行业拥有十多年的运营经验，其合作伙伴可以从这种经历中受益，可以访问SLANG手册来成功运营、销售和营销。其来自O.pen、Alchemy Naturals、Ceres、Firefly等定位独特且可扩展的品牌的强大产品线以及与Greenhouse Seed Company等品牌的合作伙伴关系有着良好的成功记录，这些品牌在SLANG运营的州一直名列前茅。在 slangww.com 上了解更多信息。
To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject.
要加入 SLANG 的电子邮件分发列表，请发送电子邮件至 SLNG@kcsa.com，主题为 “SLNG”。
Forward-Looking Statements
前瞻性陈述
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
本新闻稿包含构成 “前瞻性陈述” 的陈述。此类前瞻性陈述涉及已知和未知的风险、不确定性和其他因素，这些因素可能导致实际业绩、业绩或成就或行业发展与此类前瞻性陈述所表达或暗示的预期结果、业绩或成就存在重大差异。前瞻性陈述不是历史事实，通常以 “期望”、“计划”、“预期”、“相信”、“打算”、“估计”、“项目”、“潜力” 和类似的表述来识别，或者事件或条件 “将”、“将”、“可能”、“可能” 或 “应该” 发生。
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's Q4 2023 MD&A and other disclosure documents available on the Company's profile on SEDAR+ at . SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
前瞻性陈述必然基于许多估计和假设，尽管SLANG管理层目前认为这些估计和假设是合理的，但本质上会受到重大的业务、经济和竞争风险、不确定性和突发事件的影响，这些风险可能导致实际结果与此类陈述中表达或暗示的结果存在重大差异。提醒投资者不要过分依赖前瞻性陈述。适用的风险和不确定性包括但不限于监管风险、与法律、决议和指导方针变更相关的风险、市场风险、集中风险、经营历史、竞争、与国际和国外业务相关的风险以及SLANG2023年第四季度MD&A中的 “风险因素” 标题下确定的其他风险，可在SEDAR+的公司简介中查阅。除非适用法律明确要求，否则SLANG没有任何义务，也明确表示不打算或义务更新或修改任何前瞻性信息，无论这些信息是由于新信息、未来事件还是其他原因造成的。
Reader Advisory
读者咨询
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
加拿大证券交易所和市场监管机构（该术语在加拿大证券交易所的政策中定义）均不对本新闻稿的充分性或准确性承担责任。
Company Contact
Mikel Rutherford, CFO
833-752-6499
公司联系人
首席财务官米克尔·卢瑟福
833-752-6499
Media and Investor Inquiries
Investors@SLANGww.com
媒体和投资者查询
Investors@SLANGww.com
KCSA Strategic Communications
Phil Carlson
SLANG@kcsa.com
KCSA 战略传播
菲尔·卡尔森
SLANG@kcsa.com
1 See "Non-IFRS Measures"
1 见 “非国际财务报告准则指标”
2 In March 2020, the Coronavirus Aid, Relief, and Economic Security Act was signed into law, providing numerous tax provisions and other stimulus measures, including the ERTC, a refundable tax credit against certain employment taxes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the American Rescue Plan Act of 2021 extended and expanded the availability of the ERTC and the Company qualified for the ERTC in the first three quarters of 2021.
2 2020年3月，《冠状病毒援助、救济和经济安全法》签署成为法律，提供了许多税收条款和其他刺激措施，包括ERTC，针对某些就业税的可退还税收抵免。2020年的《纳税人确定性和灾难税收减免法》和2021年的《美国救援计划法》延长并扩大了ERTC的可用性，公司在2021年前三个季度有资格获得ERTC。