Cannabis CPG Co. SLANG Worldwide Narrows Q4 Loss By 56% YoY, Reports Dip In Revenue
SLANG Worldwide Inc. (CSE:SLNG) (OTCQB:SLGWF) announced its financial results Friday for the three and twelve months ended Dec. 31, 2023, revealing a double-digit decrease in both fourth quarter and full year 2023 loss.
“In 2023, we took a deliberate approach to advancing our strategy of profitable growth, creating a leaner, more nimble SLANG. As a result, we ended the year with increased gross profit, higher margins, and lower operating expenses which resulted in significantly lower total comprehensive loss and lower adjusted EBITDA loss,” said John Moynan, the company’s CEO. “With the fourth quarter historically our seasonally lowest revenue quarter, we took the opportunity to further fortify our business and refine our product offering, which will help us make meaningful progress on the path to profitability.”
As yet another earnings season winds down, reported financial results will surely be one of the hot topics at the upcoming Benzinga Cannabis Capital Conference which returns to Florida on April 16 and 17.