---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-043164"
form_type: "8-K"
ticker: null
cik: "0001622879"
company_name: "Medicine Man Technologies, Inc."
filed_at: "2024-04-03T23:59:59+00:00"
generated_at: "2026-06-04T02:51:48.893429+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-043164
- form_type: 8-K
- cik: 0001622879
- company_name: Medicine Man Technologies, Inc.
- filed_at: 2024-04-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1622879/000110465924043164/0001104659-24-043164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1622879/000110465924043164/tm2411011d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-043164
- JSON: https://secwatch.observer/filing/0001104659-24-043164.json
- Plain text: https://secwatch.observer/filing/0001104659-24-043164.txt

## Key facts
- Earnings Releases
  Medicine Man Technologies, Inc. reported Fourth Quarter 2023 results: revenue $43.3 million.
  - Period: Fourth Quarter 2023
  - Revenue: $43.3 million
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622879/000110465924043164/0001104659-24-043164-index.htm
- Earnings Releases
  Medicine Man Technologies, Inc. reported Full Year 2023 results: revenue $172.4 Million.
  - Period: Full Year 2023
  - Revenue: $172.4 Million
  - Result: reported results
  source text: FY 2023 Revenue of $172.4 Million; Income from Operations of $3.3 Million; Adjusted EBITDA of $53.4 Million or 31% of Revenue
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622879/000110465924043164/0001104659-24-043164-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.