TILT Holdings Q3 Revenue Drops 40% YoY Due To Jupiter Hardware Business Challenges
TILT Holdings Q3 Revenue Drops 40% YoY Due To Jupiter Hardware Business Challenges
TILT Holdings Inc. (OTCQB:TLLTF) reported Thursday its financial and operating results for the three months ended Sept. 30, 2024, revealing revenue of $27 million, compared to $44.6 million in the prior year period. The Arizona-based cannabis company attributes the decrease in revenue to its Jupiter hardware business and delays in shipping from a primary supplier as well as the temporary transition of certain customers to a commission structure.
TILt Holdings Inc.（OTCQB：TLLTF）於週四報告了截至2024年9月30日的三個月財務和運營結果，營業收入爲2700萬美元，而去年同期爲4460萬美元。這家位於亞利桑那州的大麻公司將營業收入的下降歸因於其Jupiter硬件業務以及主要供應商發貨延遲，同時某些客戶臨時轉向佣金結構。
"We are underway with a comprehensive strategic review of our plant-touching business," stated TILT's chief executive officer Tim Conder. "This process allows us to evaluate a range of potential actions, including divestitures, partnerships, and other strategic alternatives, to align our portfolio better and focus on our opportunity in inhalation technology. We believe that these plant-touching assets hold significant potential value for other operators and could provide us with the additional capital needed to strengthen our balance sheet and expand Jupiter Research."
TILT首席執行官tim Conder表示：「我們正在對我們的接觸植物業務進行全面的戰略評估。這一過程讓我們能夠評估一系列潛在行動，包括出售、合作伙伴關係和其他戰略選擇，以更好地調整我們的投資組合，專注於我們在吸入科技中的機會。我們相信，這些接觸植物的資產對其他經營者具有重要的潛在價值，並可能爲我們提供加強資產負債表和擴展Jupiter Research所需的額外資本。」
Read Also: Cannabis Co. 4Front Sees Loss Narrow In Q3, Major Growth In MA, IL
另請閱讀：大麻公司4Front在第三季度的虧損縮小，MA和IL主要增長
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Q3 2024 Financial Summary
2024年第三季度財務摘要
- Gross profit was $3.8 million and gross margin was 14% compared to $8.0 million or 18% of revenue in the prior-year period. The decrease in gross profit was mainly driven by the decreased sales volume, whereas the decrease in gross margin was primarily driven by increased logistics costs related to shipping delays, as well as product mix.
- Net loss was $12.6 million, compared to a net loss of $8.7 million in the prior year period.
- Adjusted EBITDA was a loss of $1.6 million compared to a gain of $2.2 million in the prior year period. The decrease was primarily driven by lower revenue and gross margin.
- Cash provided by operating activities was $2.0 million, compared to $1.0 million for the year-ago period.
- At September 30, 2024, the company had $3.9 million of cash, cash equivalents and restricted cash compared to $3.3 million at December 31, 2023.
- 毛利潤爲380萬美元，毛利率爲14%，而去年同期營業收入的毛利潤爲800萬美元或18%。毛利潤下降主要是由於銷售成交量減少，而毛利率下降主要是由於與發貨延遲相關的物流成本增加，以及產品組合變化。
- 淨虧損爲1260萬美元，較去年同期的淨虧損870萬美元有所增加。
- 調整後的EBITDA虧損爲160萬美元，而去年同期爲盈利220萬美元。減少主要是由於營業收入和毛利率降低。
- 通過經營活動提供的現金爲200萬美元，而去年同期爲100萬美元。
- 截至2024年9月30日，公司擁有現金、現金等價物和限制現金390萬美元，較2023年12月31日的330萬美元有所增加。
Q3 2024 & Recent Operational Highlights
2024年第三季度及近期運營亮點
- Launched Edie Parker Flower in Pennsylvania in the third quarter.
- Announced the appointment of Marshall Horowitz to the board of directors following the resignation of Adam Draizin.
- Announced the departure of Chris Kelly, former chief revenue officer.
- 在第三季度於賓夕法尼亞推出了Edie Parker Flower。
- 宣佈馬歇爾·霍洛維茨被任命爲董事會成員，接替亞當·德拉齊的辭職。
- 宣佈前首席營收官克里斯·凱利離職。
"During the third quarter, we worked through our new 'asset-light' model for Jupiter which we introduced in Q2. This model allows for a just-in-time production and shipping structure, which we expect should improve our working capital position," said Conder. "That said, we believe that by continuing to evolve Jupiter, and with this strategic review process completed, it will allow us to sharpen our focus, better align our resources, and build a robust portfolio of products that meets our customers' evolving pricing and innovation needs."
"在第三季度，我們採用了在第二季度引入的新'輕資產'模型來優化朱庇特。該模型允許按需生產和發貨結構，我們預計這將改善我們的營運資本狀況，"康德說。"也就是說，我們相信，通過持續發展朱庇特，並完成這一戰略審查過程，將使我們能夠更加專注，更好地配置資源，打造一個強大的產品組合，以滿足客戶不斷變化的定價和創新需求。"
Price Action
股價變動
TILT Holdings shares closed Thursday's market session 2.56% higher at $0.0080 per share.
TILt Holdings的股票在週四的市場交易中收盤上漲2.56%，每股價格爲0.0080美元。
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Photo: Courtesy of C.Aphirak via Shutterstock
照片：C.Aphirak通過shutterstock提供
譯文內容由第三人軟體翻譯。
