Cannabis Cultivation Exit To Revenue Crash: The Story Behind Lowell Farms' Q2 Loss
Cannabis Cultivation Exit To Revenue Crash: The Story Behind Lowell Farms' Q2 Loss
Revenue for the quarter dropped sharply by 50% year-over-year to $3.5 million, down from $7.0 million in the same quarter last year and a 27% decline from Q1 2024.Lowell Farms Inc. (OTC:LOWLF) reported its unaudited financial results for the second quarter of 2024, revealing significant challenges in revenue and profitability. CEO Mark Ainsworth said the company is focused on strategic alternatives to optimize assets, reduce overhead
Lowell農場公司（OTC:LOWLF）公佈了2024年第二季度未經審計的財務報告，揭示了營收和盈利能力方面的重大挑戰。首席執行官馬克·艾因斯沃思表示，公司將專注於戰略選擇，以優化資產，降低開支。
and strengthen its financial position.
並加強其財務地位。
A Decrease In Bulk Product Revenue
散裝產品營業收入的減少
The company recorded a net loss of $0.8 million, an improvement from the $2.9 million loss in the first quarter of 2024, but a steep decline compared to the $0.1 million loss in Q2 2023.
公司錄得淨虧損80萬美元，較2024年第一季度的290萬美元虧損有所改善，但與2023年第二季度的10萬美元虧損相比，降幅較大。
Revenue for the quarter dropped sharply by 50% year-over-year to $3.5 million, down from $7.0 million in the same quarter last year and a 27% decline from Q1 2024.
本季度營收同比銳減50%至350萬美元，較去年同期的700萬美元下降，較2024年第一季度下降27%。
The company reported this downturn was primarily driven by a substantial decrease in bulk product revenue, which fell to $0.5 million following the company's exit from its cultivation facility in January 2024.
公司稱這一下滑主要受散裝產品營業收入大幅減少的影響，該收入在2024年1月公司退出種植設施後降至50萬美元。
Gross profit remained in the red, with a gross loss of $0.6 million, yielding a negative gross margin of 15.7%.
毛利潤仍然爲負，毛損失爲60萬美元，毛利率爲負15.7%。
Gross Margin
毛利率
Despite these losses, the company saw a slight improvement in gross margin compared to the first quarter's negative 17.0%, reflecting some stabilization after exiting cultivation.
儘管虧損，公司毛利率較第一季度的負17.0%略有改善，反映出退出種植後的一些穩定。
Adjusted EBITDA for Q2 2024 was negative $1.9 million, a further decline from negative $1.3 million in Q2 2023 and negative $1.1 million in Q1 2024.
2024年第二季度調整後的EBITDA爲負190萬美元，進一步下降，低於2023年第二季度的負130萬美元和2024年第一季度的負110萬美元。
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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。