SLANG Worldwide Q1 Revenue Drops 35% YoY, Touts E-Commerce Segment Improvement Thanks To CBD Gummy Brand
SLANG Worldwide Q1 Revenue Drops 35% YoY, Touts E-Commerce Segment Improvement Thanks To CBD Gummy Brand
Cannabis consumer packaged goods company, SLANG Worldwide Inc.(CSE:SLNG) (OTCQB:SLGWF) released its financial results Thursday for the first quarter ended ended March 31, 2024. The Toronto-headquartered company announced revenue of CA$7.03 million ($5.13 million), down from CA$10.8 million.
大麻包裝消費品公司SLANG Worldwide Inc.（CSE：SLNG）（OTCQB：SLGWF）於2024年3月31日結束的第一季度發佈了其財務業績，這家總部位於多倫多的公司宣佈營業收入爲7.03百萬加元（5.13百萬美元），低於10.8百萬加元。
The company attributed revenue declines to increased competition in recreational cannabis stores in core markets in Vermont and Colorado, offset by increases in its wholesale channel in Vermont and a decline in the overall cannabis market in Colorado.
該公司將收入下降歸因於弗蒙特州和科羅拉多州核心市場中零售大麻店的競爭加劇，但在弗蒙特州批發渠道的提高和科羅拉多州整體大麻市場的下降中有所抵消。
"Our results for the first quarter demonstrated the importance of SLANG's diversified strategy as well as our commitment to our disciplined, efficient business model," stated John Moynan, chief executive officer of SLANG. "While we saw softness in our Core Markets in the first quarter, we mitigated the impact on our business with increased sales in our newer, higher-margin e-commerce channel, our Vermont wholesale channel and across our Emerging Markets, and by reducing operating expenses sequentially and year-over-year, driving operational efficiencies across most segments of our business.
SLANG的首席執行官John Moynan表示：“我們第一季度的業績證明了SLANG多樣化策略的重要性，以及我們對我們的紀律嚴明、高效的商業模式的承諾。雖然我們在首季度的核心市場上看到了一些軟弱，但我們通過在我們更新、利潤更高的電子商務渠道、我們的弗蒙特州批發渠道和 across our Emerging Markets的銷售增加，以及按年度和按季度序貫降低營業費用，推動增長效率跨大多數業務板塊，減緩了對業務的影響。
More about investments and financial data from the industry you can hear 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.
有關行業投資和財務數據的更多信息，請參加10月8日至9日在芝加哥舉行的第19屆Benzinga大麻資本大會。與高管、投資者、決策者和倡導者互動，探索該行業的未來。點擊鏈接預定門票，現在可以在價格上漲之前獲得門票。此鏈接.
Q1 2024 Financial Summary
2024年第一季度財務摘要
- Gross profit of CA$3.36 million (48% gross margin) in Q1 2024, compared with CA$5.72 million (53% gross margin) in Q1 2023, representing a 41% decrease in gross profit and a 5% decrease in gross margin year-over-year.
- Operating expenses of CA$5.54 million in Q1 2024, compared with CA$5.78 million in Q1 2023 and CA$6.63 million in Q4 2023, representing a 4% decrease year-over-year and 16% decrease quarter-over-quarter.
- Adjusted EBITDA was a loss of CA$1.06 million in Q1 2024, compared with a gain of CA$742,000 in Q1 2023.
- Total comprehensive loss amounted to CA$6.02 million, which compares to a loss of CA$2.33 million in Q1 2023.
- The company had CA$8.32 million in cash and restricted cash on March 31, 2024, compared to CA$9.04 million on December 31, 2023.
- 2024年第一季度毛利潤爲3.36百萬加元（毛利率48％），相比2023年第一季度的5.72百萬加元（毛利率53％），毛利潤下降了41％，毛利率下降了5％。
- 2024年第一季度營業費用爲5.54百萬加元，2018年第一季度爲5.78百萬加元，第四季度爲6.63百萬加元，按比例年降4％，季降16％。
- 2024年第一季度調整後的EBITDA爲106萬加元的虧損，2018年第一季度爲74.2萬加元的收益。
- 2024年第一季度總綜合損失爲602萬加元，相比2018年第一季度的232萬加元的損失。
- 該公司於2024年3月31日現金和受限制的現金爲832萬加元，相比2018年12月31日的904萬加元。
Q1 2024 Operational Highlights
Q1 2024季度運營亮點：
- Vermont Q1 2024 wholesale sales were CA$310,000, compared to CA$60,000 in Q1 2023.
- During Q1 2024, SLANG signed an agreement with a new distribution partner to sell its Alchemy Naturals CBD gummies throughout the United States.
- 2024年第一季度，弗蒙特州的批發銷售額爲310,000加元，2018年第一季度爲60,000加元。
- 在2024年第一季度，SLANG與新的分銷合作伙伴簽訂了協議，銷售其Alchemy Naturals CBD軟糖遍佈美國。
"During the quarter, our new channels continued to increase their contribution to our overall sales. Revenue from our e-commerce business segment increased by approximately 45%, demonstrating the strength of our Alchemy Naturals CBD gummy product line, and our Vermont wholesale sales channel increased by approximately 417% year-over-year," Moynana continued. "Looking ahead, we believe we will continue to elevate our market position and build our leadership position in these important cannabis product categories."
Moynana繼續說：“本季度，我們的新渠道繼續增加其對我們整體銷售的貢獻。我們的電子商務業務部門的收入增長約45％，凸顯了我們Alchemy Naturals CBD軟糖產品系列的優勢，我們的弗蒙特州批發渠道年增長約417％，展望未來，我們相信我們將繼續提升我們的市場地位，並在這些重要的大麻產品類別中建立我們的領導地位。”
Price Action
股價變動
Slang shares traded 7.32% lower at $0.02 per share at the time of writing Thursday morning.
在撰寫本文時，Slang股票價格下跌了7.32％，每股爲0.02美元。
Related link: Cannabis CPG Co. SLANG Worldwide Narrows Q4 Loss By 56% YoY, Reports Dip In Revenue
相關鏈接：Cannabis CPG Co. SLANG Worldwide Narrows Q4 Loss By 56% YoY, Reports Dip In Revenue
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譯文內容由第三人軟體翻譯。