Schwazze Q4 net loss $33.9M; FY23 revenue $172.4M, adjusted EBITDA $53.4M

Medicine Man Technologies, Inc.

FY2023 revenue $172.4M, income from ops $3.3M; adjusted EBITDA $53.4M (31% of revenue), operating cash flow $12.2M.
Q4 revenue $43.3M (+8% YoY) but net loss $33.9M due to $13.1M non-cash inventory adjustments (obsolescence, NRV, fair value).
Retail footprint expanded 50% to 63 dispensaries via acquisitions of Everest Apothecary, Standing Akimbo, and Smokey’s.
Total debt $156.8M at Dec 31, 2023 vs $127.8M a year earlier; cash $19.2M down from $38.9M.
Interim CEO cites competitive pressure in Colorado and New Mexico; wholesale pricing stabilizing.

item 2.02 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

Medicine Man Technologies, Inc. reported Fourth Quarter 2023 results: revenue $43.3 million.

Period: Fourth Quarter 2023
Revenue: $43.3 million
Result: reported results

Exact text from the filing

Total revenue in the fourth quarter of 2023 increased 8% to $43.3 million compared to $40.1 million for the same quarter last year.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Medicine Man Technologies, Inc. reported Full Year 2023 results: revenue $172.4 Million.

Period: Full Year 2023
Revenue: $172.4 Million
Result: reported results

Exact text from the filing

FY 2023 Revenue of $172.4 Million; Income from Operations of $3.3 Million; Adjusted EBITDA of $53.4 Million or 31% of Revenue

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-24-043164

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