Cannabis Cultivation Exit To Revenue Crash: The Story Behind Lowell Farms' Q2 Loss
Cannabis Cultivation Exit To Revenue Crash: The Story Behind Lowell Farms' Q2 Loss
Revenue for the quarter dropped sharply by 50% year-over-year to $3.5 million, down from $7.0 million in the same quarter last year and a 27% decline from Q1 2024.Lowell Farms Inc. (OTC:LOWLF) reported its unaudited financial results for the second quarter of 2024, revealing significant challenges in revenue and profitability. CEO Mark Ainsworth said the company is focused on strategic alternatives to optimize assets, reduce overhead
洛厄尔农场公司（场外交易代码：LOWLF）报告了其2024年第二季度未经审计的财务业绩，揭示了收入和盈利能力方面的重大挑战。首席执行官马克·安斯沃思表示，该公司专注于战略替代方案，以优化资产，减少管理费用
and strengthen its financial position.
并加强其财务状况。
A Decrease In Bulk Product Revenue
批量产品收入下降
The company recorded a net loss of $0.8 million, an improvement from the $2.9 million loss in the first quarter of 2024, but a steep decline compared to the $0.1 million loss in Q2 2023.
该公司净亏损80万美元，较2024年第一季度的290万美元亏损有所改善，但与2023年第二季度的10万美元亏损相比大幅下降。
Revenue for the quarter dropped sharply by 50% year-over-year to $3.5 million, down from $7.0 million in the same quarter last year and a 27% decline from Q1 2024.
该季度的收入同比大幅下降50％，至350万美元，低于去年同期的700万美元，比2024年第一季度下降27％。
The company reported this downturn was primarily driven by a substantial decrease in bulk product revenue, which fell to $0.5 million following the company's exit from its cultivation facility in January 2024.
该公司报告称，这种低迷的主要原因是散装产品收入的大幅下降，该公司于2024年1月退出种植设施后，大宗产品收入降至50万美元。
Gross profit remained in the red, with a gross loss of $0.6 million, yielding a negative gross margin of 15.7%.
毛利仍处于亏损状态，毛利率为60万美元，毛利率为负15.7％。
Gross Margin
毛利率
Despite these losses, the company saw a slight improvement in gross margin compared to the first quarter's negative 17.0%, reflecting some stabilization after exiting cultivation.
尽管出现了这些亏损，但该公司的毛利率与第一季度的负17.0％相比略有改善，这反映了退出种植园后的一定程度的稳定。
Adjusted EBITDA for Q2 2024 was negative $1.9 million, a further decline from negative $1.3 million in Q2 2023 and negative $1.1 million in Q1 2024.
2024年第二季度调整后的息税折旧摊销前利润为负190万美元，较2023年第二季度的负130万美元和2024年第一季度的负110万美元进一步下降。
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Photo: AI-generated image.
照片：人工智能生成的图像。