Goodness Growth Holdings Q1 revenue $19.1M (+22% YoY); positive operating income of $0.4M

Vireo Growth Inc.

2023-Q1 EPS reported -$0.07 revenue$19,088,423

Q1 revenue $19.1M (+22.1% YoY); gross margin 49.9% vs 15.9%; SG&A down 22.6%.
Operating income of $0.4M vs loss of $7.8M in prior year; EBITDA $1.4M.
Closed $2M initial tranche of $10M convertible debt; 12% interest; conversion at $0.145; warrants for 6.25M shares.
Credit facility amendment extends maturity to Apr 2024, removes amortization; up to 15M shares to lenders.
Management reorganization: Josh Rosen interim CEO, Amber Shimpa as CEO of Vireo Health MN, founder becomes Exec Chairman.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vireo Growth Inc. reported first quarter ended March 31, 2023 results: revenue $ 19.1.

Period: first quarter ended March 31, 2023
Revenue: $ 19.1
Result: reported results

Exact text from the filing

referenced in this press are denominated in U.S. dollars. Summary of Key Financial Metrics Three Months Ended US $ in millions March 31, 2023 2022 Variance GAAP Revenue $ 19.1 $ 15.6 22.1 % Revenue (excluding discontinued operations) $ 19.1 $ 14.6 30.5 % GAAP Gross Profit $ 9.5 $ 2.5 280.0 % Gross Profit Margin 49.9 % 15.9 % 3,400 bps SG&A Expenses

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Vireo Growth Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-062424

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