Cannabis Co. Cresco Labs' 93% YoY Improvement In Net Loss, $49M Operating Cash Flow In Q3
Cannabis Co. Cresco Labs' 93% YoY Improvement In Net Loss, $49M Operating Cash Flow In Q3
As of Sept. 30, 2024, assets were $312 million, including cash, cash equivalents and restricted cash of $157 million.Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) a company behind Sunnyside dispensaries, released its financial and operating results on Friday for the third quarter ended September 30, 2024.
Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ)，作爲Sunnyside店鋪背後的公司，於2024年9月30日結束的第三季度星期五發布了其財務和運營結果。
"So far this year, we've generated $103 million in operating cashflow, enabling us to reinvest in our core, and to explore new markets and growth verticals, all while improving our balance sheet and paying down debt," CEO and co-founderCharlie Bachtell said.
「到目前爲止，我們在經營現金流方面已經創造了10300萬美元，使我們能夠重新投資於我們的核心業務，並探索新的市場和增長領域，同時改善我們的資產負債表並償還債務，」首席執行官兼聯合創始人Charlie Bachtell表示。
Q3 2024 Financial Highlights
2024年Q3財務亮點：
- Third quarter revenue of $179.8 million representing a 3.2% sequential drop and a 5.7% decrease from the same quarter of last year.
- Gross profit of $93.4 million, compared to a $93.6 million gross profit in the corresponding period of last year, and $94.8 million gross profit in the previous period.
- Adjusted gross profit, a non-GAAP measure, was $95.3 million, and an adjusted gross margin of 53% of revenue, a 250 bps improvement year-over-year.
- Selling, general and administrative expenses of $57 million. Reduced adjusted SG&A by 6% year-over-year to $53 million, or 30% of revenue.
- Net loss was $7.7 million, down 93% year-over-year and 84% quarter-over-quarter.
- Third quarter Adjusted EBITDA came in positive at $51 million, up 5% year-over-year; Adjusted EBITDA margin of 29%, a 280 bps improvement year-over-year.
- Record third-quarter operating cash flow of $49 million and free cash flow of $43 million.
- Adjusted EBITDA, a non-GAAP measure, came in positive at $51.3 million, down from an adjusted EBITDA gain of $49 million in the prior year's period and $53.9 million in the prior quarter.
- 第三季度營業收入爲17980萬美元，較上一季度環比下降3.2％，較去年同期下降5.7％。
- 毛利潤爲9340萬美元，與去年同期的9360萬美元毛利潤相比下降，與上一時期的9480萬美元毛利潤相比也有所下降。
- 調整後的毛利潤，一項非通用會計準則措施，爲9530萬美元，調整後的毛利率爲營業收入的53％，年同比提升250個點子。
- 銷售、一般和行政費用爲5700萬美元。將調整後的銷售、一般和行政費用由去年同比減少6％至5300萬美元，佔營業收入的30％。
- 淨虧損爲770萬美元，同比下降93％，環比下降84％。
- 第三季度調整後的EBITDA爲5100萬美元，同比增長5%；調整後的EBITDA利潤率爲29%，同比提高280個點子。
- 創下第三季度運營現金流4900萬美元和自由現金流4300萬美元的記錄。
- 調整後的EBITDA爲5130萬美元，爲非GAAP指標，較上年同期4900萬美元和上季度5390萬美元的調整EBITDA增長而言下降。
Read Also: Cannabis Co. Cresco Lab's Q2 Gross Profit Increases Over 9% YoY, Reports Nearly 7% Drop In Revenue
閱讀更多：大麻股Cresco Lab的Q2毛利潤同比增長超過9%，營業收入幾乎下降了7%
As of Sept. 30, 2024, assets were $312 million, including cash, cash equivalents and restricted cash of $157 million.
截至2024年9月30日，資產爲31200萬美元，包括現金、現金等價物和15700萬美元的限制性現金。
The company had senior secured term loan debt, net of discount and issuance costs, of $390 million and a mortgage loan, net of discount and issuance costs of $18 million.
公司擁有淨折扣和發行成本後的39000萬美元的首位擔保期限貸款債務和淨折扣和發行成本後1800萬美元的抵押貸款。
On Oct. 25, 2024, the company repurchased a $40 million principal amount of its senior loan and paid $0.3 million of accrued Interest.
2024年10月25日，公司回購了4000萬美元的優先貸款本金，並支付了30萬美元的應計利息。
Cresco Labs made its debut in Chicago in 2013 when Illinois passed the Compassionate Use of Medical Cannabis Act. "The company's goal and that of its management team has been to help normalize and professionalize this industry," Bachtell told the crowd gathered at the Benzinga Cannabis Capital Conference in Chicago in early October.
Cresco Labs於2013年在芝加哥首次亮相，當時伊利諾伊州通過了《醫療大麻憐憫使用法案》。「公司的目標及其管理團隊的目標一直是幫助使這個行業正常化並專業化，」 Bachtell在10月初在芝加哥舉行的Benzinga大麻資本大會上告訴聚集在一起的人群。
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譯文內容由第三人軟體翻譯。
