New York’s The Cannabist Company: Q2 Revenue Declines 3% YoY, Reduces Net Loss As It ‘Strives To Build A Better Business’
The Cannabist Company Holdings Inc.(Cboe CA:CBST) (OTCQX:CBSTF) (FSE:3LP) reported its financial and operating results Thursday for the second quarter ended June 30, 2024. The New York-based cannabis operator disclosed quarterly revenue of $125.19 million, compared to $129.24 million in the same period last year.
“Our second quarter results show continued progress in our efforts to build a better business, as we transform our operations and reshape our footprint, all in the process of targeting enhanced profitability,” stated CEO David Hart. “We saw sequential improvement in revenue, gross profit, Adjusted EBITDA and Adjusted EBITDA margin, and the green shoots that we referenced last quarter continued to flourish. We’ve announced several transactions that will have a marked …