Flora Growth reports FY2022 revenue $37.2M, +314% YoY; reaffirms 2023 guidance $90M-$105M

ZeroStack Corp.

2024-Q1 EPS reported -$0.58 revenue$20,107,000

Revenue of $37.2 million, a 314% increase year-over-year; Q4 revenue $11.5M, +7% sequentially.
Gross profit $14.4M (+494% YoY); gross margin improved to 39% from 27%.
Net loss $52.6M vs $21.4M; adjusted EBITDA loss $18.3M vs $16.5M; margin improved to -49.3%.
Cash and equivalents $9.5M as of Dec 31, 2022, down from $37.6M a year ago.
Reaffirms 2023 revenue guidance range of $90 million to $105 million.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ZeroStack Corp. reported the fiscal year ended December 31, 2022 results: revenue $37.2 million, net income $52.6 million. Guidance reaffirmed.

Period: the fiscal year ended December 31, 2022
Revenue: $37.2 million
Net income: $52.6 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

FY2022 Financial Highlights · For the FY2022, Flora generated $37.2 million in revenue, a 314% increase year-over-year. This was primarily driven by the House of Brands businesses. Additionally, in Q4 2022, revenue was $11.5 million, a 7% sequential increase from Q3 2022, driven primarily by organic growth. · Gross profit for FY2022 increased by 494% year-over-year to $14.4 million. · Gross margin improved year-over-year from 27% in FY2021 to 39% FY2022. · Adjusted EBITDA loss for FY2022 was $18.3 million, up from $16.5 million in FY2021. · Adjusted EBITDA margin for FY2022 improved to -49.3% from -184.2% in FY2021. · Net loss for FY2022 was $52.6 million as compared to $21.4 million for FY2021 and net loss margin for FY2022 improved to -141.6% from -237.9% in FY2021.

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Source: SEC EDGAR

accession 0001477932-23-002104

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