Gold Flora Q2 Earnings: Revenue Soars Though Net Loss Widens To $24M
Gold Flora Corp. (OTC:GRAM), a vertically-integrated California cannabis company, announced its financial earnings Thursday for the second quarter of 2024.
Q2 2024 Financial Highlights
Revenue was $31.64 million, compared to the $14.96 million reported in the same quarter last year.
Net loss was $23.95 million, compared to the $14.1 million from the second quarter of 2023.
Adjusted EBITDA was a loss of $1.97 million, compared to a loss of $0.28 million in Q2 last year.
Gross profit was $7.25 million, increasing from the $3.94 million in Q2 2023.
Gross Profit Declines And Adjusted Gross Margin Increases
Gold Flora Corporation generated $31.64 million in revenue, reflecting a slight decrease of 2% from the previous quarter. However, gross profit dropped significantly by 28%, totaling $7.25 million, resulting in a gross margin of 23%. Adjusted gross profit stood …