Blum Holdings Q3 2024: revenue up 182% YoY, gross margin 56%, debt cut 68% YTD

BLUM HOLDINGS, INC.

Revenue from continuing operations +15% QoQ, +182% YoY; gross margin improved to 56% in Q3 2024.
SG&A expenses for 9M 2024 were $14.8M, down from $30.3M in prior year period.
Debt reduced to $9.2M as of Sep 30, 2024 (68% YTD reduction, 83% from Dec 2021); total liabilities $66.2M.
Post Q3: Sold Blum Oakland & San Leandro for $3.18M liability assumption; Unrivaled Chapter 11 filing limited to that entity, not Blum.
Northern CA stores consolidated, adding ~$3M quarterly revenue; Korova brand reinvigorated.

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