4Front Ventures FY Revenue Drops 10% As Net Loss Increases, CEO Offers Optimistic Projections
A vertically-integrated cannabis company 4Front Ventures Corp. (CSE:FFNT) (OTCQX:FFNTF) reported its financial results for the fourth quarter and full year ended December 31, revealing quarterly revenue of $21 million, down 21% from the same period of 2022. For the three months ended December 31, the multi-state operator disclosed an Adjusted EBITDA of $2.5 million.
“Our growth strategy, particularly in Illinois with the imminent opening of our Matteson facility and two new stores, is expected to double our production capacity and significantly boost our revenue and profitability in the state,” stated Andrew Thut, CEO of 4Front Ventures. “Additionally, we anticipate further growth in Massachusetts that is expected to accelerate starting in the second quarter, as we expand our wholesale channels and continue to benefit from investments in our cultivation facilities, adjustments …