Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Edible Garden AG Inc reported the three months ended September 30, 2022 results: revenue $2.8 million, net income Net loss was $2.1 million, EPS $0.24 per share.
- Period
- the three months ended September 30, 2022
- Revenue
- $2.8 million
- Net income
- Net loss was $2.1 million
- EPS
- $0.24 per share
- Result
- reported results
Exact text from the filing
Financial results for the three months ended September 30, 2022 For the third quarter ended September 30, 2022, revenues totaled $2.8 million, an increase of 12.5%, compared to $2.4 million for the three months ended September 30, 2021. The increase represents growth from the existing customer base. Cost of goods sold were $2.6 million for the three months ended September 30, 2022, compared to $2.3 million for the three months ended September 30, 2021. The increase was due to the increase in revenue. Selling, general and administrative expenses were $1.9 million for the three months ended September 30, 2022, compared to $1.2 million for the three months ended September 30, 2021. The increase was primarily driven by higher payroll and compensation expense, as well as other public company expenses that were not incurred in 2021. Net loss was $2.1 million, or $0.24 per share, for the three months ended September 30, 2022, compared to a net loss of $1.1 million, or $0.28 per share, for
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Edible Garden AG Inc reported the nine months ended September 30, 2022 results: revenue $8.5 million, net income Net loss was $9.5 million, EPS $1.36 per share.
- Period
- the nine months ended September 30, 2022
- Revenue
- $8.5 million
- Net income
- Net loss was $9.5 million
- EPS
- $1.36 per share
- Result
- reported results
Exact text from the filing
Financial results for the nine months ended September 30, 2022 For the nine months ended September 30, 2022, revenues totaled $8.5 million, an increase of 10.0%, compared to $7.7 million for the nine months ended September 30, 2021. The increase represents growth from the existing customer base. Cost of goods sold were $8.2 million for the nine months ended September 30, 2022, compared to $7.1 million for the nine months ended September 30, 2021. The increase was due to higher packaging costs due to inflation, higher labor costs due to COVID-19 and higher costs charged by contract farmers. Selling, general and administrative expenses were $6.3 million for the nine months ended September 30, 2022, compared to $3.9 million for the nine months ended September 30, 2021. The increase was primarily driven by higher payroll and compensation expense, which included one-time expenses related to the completion of our IPO, as well as other public company expenses that were not incurred in 2021.
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