Lowell Farms Reports 35% Revenue Drop In Q1: Following Cannabis Cultivation Exit, Net Loss Down 27.5%
Lowell Farms Reports 35% Revenue Drop In Q1: Following Cannabis Cultivation Exit, Net Loss Down 27.5%
California-based cannabis company Lowell Farms Inc. (OTC:LOWLF)
總部位於加利福尼亞的大麻公司洛厄爾農場公司（場外交易代碼：LOWLF）
released its financial and operational results on Tuesday afternoon for the first quarter of 2024, ending March 31.
週二下午發佈了截至3月31日的2024年第一季度的財務和運營業績。
The company reported a 35% decrease in net revenue, which fell to $4.9 million from $7.5 million in the same quarter last year. However, net revenue showed a 35% increase from $3.6 million in Q4 2023.
該公司報告淨收入下降了35％，從去年同期的750萬美元降至490萬美元。但是，淨收入較2023年第四季度的360萬美元增長了35％。
Consumer packaged goods (CPG) revenue dipped 11% year-over-year but rose 10% from the previous quarter. Bulk product revenue dropped 73% year-over-year and 66% from Q4 2023. Revenue from Lowell Farm Services (LFS) decreased 41% year-over-year and 93% from the previous quarter.
包裝消費品（CPG）收入同比下降11％，但比上一季度增長10％。大宗產品收入同比下降73％，較2023年第四季度下降66％。洛厄爾農場服務（LFS）的收入同比下降41％，比上一季度下降93％。
Mark Ainsworth, co-founder and CEO, remarked, "Our recent strategic decisions have bolstered our manufacturing and distribution capabilities, allowing us to navigate the industry landscape. By optimizing efficiencies, we're poised for steady growth and positive impact."
聯合創始人兼首席執行官馬克·安斯沃思表示：“我們最近的戰略決策增強了我們的製造和分銷能力，使我們能夠駕馭行業格局。通過優化效率，我們有望實現穩步增長和產生積極影響。”
Financial Losses Improve Despite Gross Margin Challenges
儘管存在毛利率挑戰，但財務損失有所改善
- Lowell Farms reported a gross loss of $0.8 million for the quarter, translating to a negative gross margin of 17%, primarily due to the company's exit from its cultivation facility. This means the company faced significant financial challenges as it transitioned away from cultivation, impacting its overall profitability.
- The operating loss for Q1 2024 was $2.9 million, compared to $2.4 million in Q1 2023 and $9.6 million in Q4 2023.
- The net loss for the quarter was $2.9 million, an improvement from the $4.0 million net loss in the same quarter last year (27.5% YoY) and better than the $13.1 million net loss in Q4 2023 (77.9% QoQ).
- Adjusted EBITDA stood at negative $1.1 million, consistent with the same quarter last year but an improvement from negative $4.1 million in the previous quarter.
- 洛厄爾農場報告稱，本季度毛利率爲80萬美元，毛利率爲負17％，這主要是由於該公司退出種植設施。這意味着該公司在退出種植階段時面臨着重大的財務挑戰，影響了其整體盈利能力。
- 2024年第一季度的營業虧損爲290萬美元，而2023年第一季度爲240萬美元，2023年第四季度爲960萬美元。
- 該季度的淨虧損爲290萬美元，比去年同期的400萬美元（同比虧損27.5％）有所改善，也好於2023年第四季度的1,310萬美元淨虧損（環比增長77.9％）。
- 調整後的息稅折舊攤銷前利潤爲負110萬美元，與去年同期持平，但較上一季度的負410萬美元有所改善。
To learn more about the cannabis business and how to invest in the sector, don't miss the opportunity to join us at the 19th Benzinga Cannabis Capital Conference in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry's future. Secure your tickets now before prices increase by following this link.
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。
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。