Schwazze Q1 revenue up 4% to $41.6M but net loss of $16.1M; Adjusted EBITDA down 49% YoY

Medicine Man Technologies, Inc.

Revenue of $41.6M, up 4% YoY; gross margin fell to 43.1% from 54.6% on pricing pressure.
Net loss of $16.1M vs net income of $1.7M in Q1 2023.
Adjusted EBITDA of $7.3M, down 49% from $14.5M a year ago.
Cash and equivalents $13.2M at quarter-end; total debt $159.7M.
Company cites competitive retail environments in Colorado and New Mexico as headwinds.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Medicine Man Technologies, Inc. reported first quarter ended March 31, 2024 results: revenue $41.6 million, net income $16.1 million.

Period: first quarter ended March 31, 2024
Revenue: $41.6 million
Net income: $16.1 million
Result: reported results

Exact text from the filing

Total revenue in the first quarter of 2024 increased 4% to $41.6 million compared to $40.0 million for the same quarter last year.

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Source: SEC EDGAR

accession 0001104659-24-062075

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