Schwazze's Q1 2024 Financial Results: Takes A Hit In Colorado, Overall Cannabis Sales Up By 9%
Schwazze's Q1 2024 Financial Results: Takes A Hit In Colorado, Overall Cannabis Sales Up By 9%
Medicine Man Technologies, Inc., operating as Schwazze (OTC:SHWZ), announced its financial results for the first quarter ended March 31, 2024.
以Schwazze（場外交易代碼：SHWZ）運營的Medicine Man Technologies, Inc. 公佈了截至2024年3月31日的第一季度財務業績。
Schwazze's interim CEO, Forrest Hoffmaster, commented on the results. "We delivered another period of revenue growth in Q1 as we further refined our retail strategy while contending with the prolonged competitive challenges in Colorado and New Mexico."
施瓦茲的臨時首席執行官福雷斯特·霍夫馬斯特對業績發表了評論。“我們在應對科羅拉多州和新墨西哥州長期競爭挑戰的同時，進一步完善了零售戰略，在第一季度實現了又一個收入增長期。”
Operational And Strategic Developments
運營和戰略發展
Schwazze has focused on enhancing its retail and wholesale strategies, including pricing, promotions and improving the in-store experience. The company reported that its Colorado sales were down 10% year-over-year due to lower volumes, but overall sales were up 9%, outperforming the market.
Schwazze一直致力於加強其零售和批發策略，包括定價、促銷和改善店內體驗。該公司報告稱，由於銷量減少，其科羅拉多州的銷售額同比下降了10％，但總銷售額增長了9％，跑贏了市場。
In New Mexico, despite the rapid increase in store counts, the company concentrated on high-quality products and customer experience, leading to strong performance.
在新墨西哥州，儘管門店數量迅速增加，但該公司仍專注於高質量的產品和客戶體驗，從而實現了強勁的業績。
"Over the past four years we have rapidly scaled our footprint through 13 acquisitions, building a leading retail presence in both Colorado and New Mexico. We believe these initiatives, coupled with our operating playbook and strict cost controls, will enable us to return to stronger levels of profitability moving forward," Hoffmaster noted.
“在過去的四年中，我們通過13次收購迅速擴大了業務範圍，在科羅拉多州和新墨西哥州建立了領先的零售業務。我們相信，這些舉措，加上我們的運營手冊和嚴格的成本控制，將使我們能夠在未來恢復更強的盈利水平，” 霍夫馬斯特指出。
Key Financial Metrics
關鍵財務指標
- Total Revenue: $41.6 million in Q1 2024, up 4% from $40.0 million in Q1 2023.
- Gross Profit: $17.9 million (43.1% of total revenue) in Q1 2024, down from $21.8 million (54.6% of total revenue) in Q1 2023.
- Income (loss) from Operations: Loss of $2.7 million in Q1 2024, compared to income of $5.6 million in Q1 2023.
- Net Loss: $16.1 million in Q1 2024, compared to net income of $1.7 million in Q1 2023.
- Adjusted EBITDA: $7.3 million in Q1 2024, down from $14.5 million in Q1 2023.
- Operating Cash Flow: Negative $3.7 million in Q1 2024, compared to negative $0.88 million in Q1 2023.
- Operating Expenses: $20.6 million in Q1 2024, up from $16.2 million in Q1 2023.
- 總收入：2024年第一季度爲4,160萬美元，較2023年第一季度的4,000萬美元增長4％。
- 毛利：2024年第一季度爲1,790萬美元（佔總收入的43.1％），低於2023年第一季度的2180萬美元（佔總收入的54.6％）。
- 運營收入（虧損）：2024年第一季度虧損270萬美元，而2023年第一季度的收入爲560萬美元。
- 淨虧損：2024年第一季度的淨虧損爲1,610萬美元，而2023年第一季度的淨收入爲170萬美元。
- 調整後的息稅折舊攤銷前利潤：2024年第一季度爲730萬美元，低於2023年第一季度的1,450萬美元。
- 運營現金流：2024年第一季度爲負370萬美元，而2023年第一季度爲負88萬美元。
- 運營費用：2024年第一季度的2,060萬美元，高於2023年第一季度的1,620萬美元。
Financial Position
財務狀況
As of March 31, 2024, Schwazze reported cash and cash equivalents of $13.2 million, down from $19.2 million on December 31, 2023. Total debt increased to $159.7 million from $156.8 million during the same period.
截至2024年3月31日，施瓦茲公佈的現金及現金等價物爲1,320萬美元，低於2023年12月31日的1,920萬美元。債務總額從同期的1.568億美元增加到1.597億美元。
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要了解有關大麻業務以及如何投資該行業的更多信息，請不要錯過參加將於10月8日至9日在芝加哥舉行的第19屆Benzinga大麻資本會議的機會。與高層管理人員、投資者、政策制定者和倡導者互動，探索該行業的未來。在價格上漲之前，立即通過以下方式保護您的門票 這個鏈接。
Recent Operational Highlights
近期運營亮點
- Expansion: Opened a new dispensary under the Everest Apothecary banner in Las Cruces, New Mexico, increasing its retail footprint to 34 stores.
- Wholesale Growth: Achieved over 30% door penetration in Colorado and New Mexico.
- Product Performance: Lowell Herb Co. pre-roll sales increased more than threefold quarter-over-quarter in Colorado, and Wana gummy sales doubled in New Mexico.
- 擴張：在新墨西哥州拉斯克魯塞斯以珠穆朗瑪峯藥劑師的旗幟開設了一家新藥房，將其零售足跡增加到34家門店。
- 批發增長：在科羅拉多州和新墨西哥州實現了超過30％的門店滲透率。
- 產品業績：洛厄爾香草公司在科羅拉多州的售前銷售額同比增長了三倍以上，新墨西哥州的Wana軟糖銷售額翻了一番。
Photo: AI-Generated Image.
照片：人工智能生成的圖像。
譯文內容由第三人軟體翻譯。