Clever Leaves Holdings Inc. (NASDAQ:CLVR) (NASDAQ:CLVRW) reported its financial results late Monday for the fourth quarter and full year concluded on December 31, 2023.
The company reported a 6% increase in revenue compared to the previous year, driven by a notable 39% rise in full-year cannabinoid revenue.
CEO Andres Fajardo highlighted in a press release the execution of strategic initiatives, emphasizing the enhancement of commercial and production operations alongside capital efficiency and cost structure optimization.
Learn More about investment opportunities at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 and 17, 2024 at The Diplomat Beach Resort. Get your tickets now on bzcannabis.com – Prices will increase very soon!Fourth Quarter 2023 Performance
In the fourth quarter of 2023, revenue surged by 5% to $4.6 million compared to the same period in 2022.
This growth was primarily attributed to a robust performance in the cannabinoid segment, which saw revenues escalate by 29%, reaching $2.0 million.
The quarter saw operational improvements, notably a substantial increase in harvest to 1,693 kilograms of dry flower compared to 89 kilograms in the same period last year.
The Full Year 2023 Overview
For the full year 2023, Clever Leaves recorded a 6% increase in revenue, amounting to $17.4 million compared to $16.4 million in 2022.
Cannabinoid revenue witnessed a significant surge, rising by 39% to $6.6 million.
Notably, the company focused on optimizing its cost structure, leading to improved operational efficiencies and a reduction in general and administrative expenses by 24%.
Challenges And Progress
Despite positive growth trends, Clever Leaves faced challenges such as variability in Brazilian quotas issuance and order stoppages in Israel due to geopolitical conflicts.
However, the company continued its expansion efforts, including partnerships with Dutch seed bank Paradise Seeds.
A significant milestone for Clever Leaves was the completion of the sale of its Non-Cannabinoid Herbal Brands Business on March 21, 2024, amounting to $8.02 million.
The transaction included $7.02 million in cash paid at closing, marking a notable move in the company's strategic alignment and focus on its core operations.
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Photo by Jhon David on Unsplash.
Clever Leaves Holdings Inc.（納斯達克股票代碼：CLVR）（納斯達克股票代碼：CLVRW）週一晚些時候公佈了截至2023年12月31日的第四季度和全年財務業績。
該公司報告稱，與去年同期相比，收入增長了6％，這得益於全年大麻素收入顯著增長39％。
首席執行官安德烈斯·法哈多在新聞稿中強調了戰略舉措的執行，強調要加強商業和生產運營，同時優化資本效率和成本結構。
在即將於2024年4月16日和17日在佛羅里達州外交官海灘度假村舉行的本辛加大麻資本會議上了解有關投資機會的更多信息。立即在bzcannabis.com上購買門票——價格很快就會上漲！2023 年第四季度業績
2023年第四季度，收入與2022年同期相比增長了5％，達到460萬美元。
這種增長主要歸因於大麻素領域的強勁表現，該領域的收入增長了29％，達到200萬美元。
該季度的運營有所改善，尤其是乾花的收成大幅增加，達到1,693千克，而去年同期爲89千克。
2023 年全年概述
2023年全年，Clever Leaves的收入增長了6％，達到1740萬美元，而2022年爲1,640萬美元。
大麻素收入大幅增長，增長了39％，達到660萬美元。
值得注意的是，該公司專注於優化其成本結構，從而提高了運營效率，並將一般和管理費用減少了24％。
挑戰與進展
儘管增長趨勢良好，但Clever Leaves仍面臨諸如巴西配額髮放的可變性以及地緣政治衝突導致的以色列訂單中斷等挑戰。
但是，該公司繼續進行擴張努力，包括與荷蘭種子銀行天堂種子建立合作伙伴關係。
Clever Leaves的一個重要里程碑是其非大麻素草藥品牌業務於2024年3月21日完成了總額爲802萬美元的出售。
該交易包括收盤時支付的702萬美元現金，這標誌着公司在戰略調整和重點核心業務方面取得了顯著進展。
在即將於2024年4月16日和17日在佛羅里達州舉行的本辛加大麻資本會議上了解有關這些基本問題的更多信息。在外交官海灘度假村舉行的爲期兩天的活動將爲大小企業家提供交流、學習和成長的機會。這次會議以其引領潮流的能力和對大麻未來的影響而聞名，記住你的日曆——這是大麻界年度必去的活動。立即在bzcannabis.com上購買門票——價格很快就會上漲！
照片由約翰·大衛在 Unsplash 上拍攝。
