Edible Garden Q2 revenue up 41.4% to $4.2M; gross profit soars 168%

Edible Garden AG Inc

Revenue $4.2M (+41.4% YoY); herbs/produce/floral up 41.7%, plant-based supplements up 39.3%.
Gross profit climbed 168% YoY; net loss narrowed to $0.638M ($0.24 loss per share) from $4.8M.
Expanded Walmart distribution to Northeast and East South Central stores; added SKUs.
Edible Garden Heartland facility (up to $20M annualized revenue) shipping since Q2 start.
Reaffirms target of positive quarterly cash flow from operations before year-end 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Edible Garden AG Inc reported the three months ended June 30, 2023 results: revenue $4.2 million. Guidance reaffirmed.

Period: the three months ended June 30, 2023
Revenue: $4.2 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

positive cash flow on a quarterly basis before the year's end." Financial results for the three months ended June 30, 2023 For the quarter ended June 30, 2023, revenue totaled $4.2 million, an increase of 41.4% compared to $3.0 million for the three months ended June 30, 2022. The 41.7% increase in the herbs, produce and floral business was primarily due to the

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Source: SEC EDGAR

accession 0001477932-23-005860

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