Blüm Holdings Q1 Revenue Drop 16% YoY, Eliminates Non-Performing Legacy Operations, Reduces Net Loss
Blüm Holdings Q1 Revenue Drop 16% YoY, Eliminates Non-Performing Legacy Operations, Reduces Net Loss
Blüm Holdings shares closed Wednesday's market session 15.87% higher at 73 cents per share. Blüm Holdings, Inc. (OTCQB:BLMH) reported its financial results Wednesday for the first quarter ended March 31, 2024, revealing revenue of $6.78 million, down by 16% from $8.1 million in the same period of 2023. The California cannabis company attributed the revenue decline to the continued elimination of non-performing legacy operations during the first quarter of 2024 and transitioning a single retail location to delivery only.
Blum Holdings, Inc.（場外交易代碼：BLMH）週三公佈了截至2024年3月31日的第一季度財務業績，顯示收入爲678萬美元，較2023年同期的810萬美元下降了16％。這家加州大麻公司將收入下降歸因於2024年第一季度持續取消不良的傳統業務，以及將單一零售地點過渡到僅限送貨服務。
"Despite challenges, our commitment is to maintain a strong gross margin and reduce operating expenses," Patty Chan, Blüm's chief financial officer stated. "We remain optimistic about the opportunities ahead and are confident in our ability to capitalize on them."
Blum首席財務官Patty Chan表示：“儘管面臨挑戰，但我們的承諾是保持強勁的毛利率並減少運營開支。”“我們對未來的機遇仍然持樂觀態度，並對我們利用這些機會的能力充滿信心。”
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您可以在10月8日至9日在芝加哥舉行的第19屆Benzinga大麻資本會議上聽到有關該行業投資和財務數據的更多信息。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。
Q1 2024 Financial And Operational Highlights
2024 年第一季度財務和運營亮點
- Gross profit was $3.61 million, or 53% versus $4.38 million or 54% in the first quarter of last year.
- Net loss from continuing operations was $3.06 million or $0.31 loss per share, compared to net loss of $7.81 million or $0.84 loss per share in the comparable period of 2023.
- Operating expenses amounted to $6.1 million, a decrease of 34% from $9.25 million in the first quarter of 2023.
- For five consecutive quarters in a row, the company has maintained a gross margin of above 50%, landing at 53% for the first quarter of 2024.
- In line with its strategic realignment, Blüm divested its final California cultivation facility in January 2024, focusing on expanding profitable cannabis assets and brand development.
- Earlier this year, Unrivaled Brands, Inc. underwent a corporate reorganization to become a subsidiary of Blüm Holdings, Inc. All Unrivaled shares were converted to Blüm shares, with trading starting as "BLMH" on the OTCQB on February 12, 2024. Additionally, Unrivaled executed a 1-for-100 reverse stock split.
- 毛利爲361萬美元，增長53％，而去年第一季度的毛利爲438萬美元，增長54％。
- 持續經營業務的淨虧損爲306萬美元，合每股虧損0.31美元，而2023年同期的淨虧損爲781萬美元，合每股虧損0.84美元。
- 運營支出爲610萬美元，較2023年第一季度的925萬美元下降了34％。
- 該公司連續五個季度保持在50％以上的毛利率，2024年第一季度達到53％。
- 根據其戰略調整，Blum 於 2024 年 1 月剝離了其在加利福尼亞的最後一個種植設施，專注於擴大盈利的大麻資產和品牌發展。
- 今年早些時候，Unrivaled Brands, Inc.進行了公司重組，成爲Blum Holdings, Inc.的子公司。所有無與倫比的股票均轉換爲百隆股票，並於2024年2月12日在OTCQB以 “BLMH” 的名義開始交易。此外，Unrivaled還執行了1比100的反向股票拆分。
Price Action
價格走勢
Blüm Holdings shares closed Wednesday's market session 15.87% higher at 73 cents per share.
Blum Holdings股價週三收盤上漲15.87％，至每股73美分。
Photo: Courtesy of Branding Pot via Shutterstock
照片：由 Branding Pot 通過 Shutterstock 提供
譯文內容由第三人軟體翻譯。
