Flora Growth Quarterly Revenue Falls 28% YoY As Expenses Rise
Flora Growth Corp. (NASDAQ:FLGC) reported Thursday after market close its financial results for the three months ended Sept. 30, 2024. disclosing revenue of $12.47 million, down from $17.32 million in the same period of last year.
“As the cannabis industry continues to grow, we at Flora are encouraged by the election of President-elect Donald Trump and the potential for continued progress in cannabis reform,” stated CEO Clifford Starke. “Under his previous administration, the signing of the 2018 Farm Bill laid the foundation for the U.S. hemp and CBD industries, creating a $28 billion market and countless economic opportunities for farmers, manufacturers, and brands across the nation. We recognize the profound impact of this legislation, which enabled Flora and many others to bring safe, high-quality cannabis products to a global audience.”
Read Also: California Weed Co. Glass House Brands Reports 32% YoY Q3 Revenue Growth (UPDATED)
Get Benzinga’s …