Blum Holdings reports FY 2023 revenue down 36% but net loss improves 93% to $13.8M

BLUM HOLDINGS, INC.

Full-year revenue $33.2M vs $52.0M in 2022; gross margin rose 18 pts to 53%.
Net loss from continuing ops improved 93% to $13.8M from $183.9M, driven by prior-year impairments and exit of unprofitable segments.
EBITDA loss from continuing ops improved to $4.0M from $173.6M in 2022; cash used in ops fell 85% to $1.0M.
Gain on debt extinguishment of $5.4M; exited Northern California cultivation facility in Q4.
Q4 revenue steady at $8.1M; quarterly loss before tax of $6.3M included $3.2M of income tax-related interest/penalties.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BLUM HOLDINGS, INC. reported financial results for fourth quarter and year ended December 31, 2023.

Period: fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

Blum Holdings, Inc. (the “Company”) issued a press release announcing financial results for its fourth quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001437749-24-012097

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