Cannabis Co. Cresco Labs’ 93% YoY Improvement In Net Loss, $49M Operating Cash Flow In Q3
Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) a company behind Sunnyside dispensaries, released its financial and operating results on Friday for the third quarter ended September 30, 2024.
“So far this year, we’ve generated $103 million in operating cashflow, enabling us to reinvest in our core, and to explore new markets and growth verticals, all while improving our balance sheet and paying down debt,” CEO and co-founderCharlie Bachtell said.
Q3 2024 Financial Highlights
- Third quarter revenue of $179.8 million representing a 3.2% sequential drop and a 5.7% decrease from the same quarter of last year.
- Gross profit of $93.4 million, compared to a $93.6 million gross profit in the corresponding period of last year, and $94.8 million gross profit in the previous period.
- Adjusted gross …