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Multi-State Marijuana Operator 4Front Posts 31% YoY Lower Q2 Revenue, Sees Net Loss Reduction, Remains Focused On Illinois

Benzinga ·  Aug 15, 2024 20:55

4Front Ventures Corp.(CSE:FFNT) (OTCQX:FFNTF) reported its financial results Wednesday for the quarter ended June 30, 2024. The Arizona-headquartered multi-state operator disclosedrevenue of $18.7 million, compared to $27.2 million in the corresponding quarter of the previous yearand $18.8 in the previous quarter.

For the second quarter, its Illinois facility reported total revenue of $8.2 million, slightly down from $8.5 million in Q1. This decrease was primarily influenced by heightened competition and inconsistent in-store traffic. At the same time, wholesale revenue in Illinois improved 10%. Meanwhile, Massachusetts showed a positive trend, with total revenue increasing to $8.2 million in Q2 from $8.04 million in Q1. This growth was...

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