Marijuana Operator Tilt Holdings’ Revenue Drops YoY, But Manages To Reduce Net Loss
Cannabis company Tilt Holdings Inc. (CBOE:TILT) (OTCQB:TLLTF) reported its financial and operating results Thursday for the three and twelve months ended Dec. 31, 2023, revealing quarterly revenue of $37.5 million, versus $44.3 million in the same period of 2022. The expected decrease in revenue was primarily attributable to the timing of Jupiter order shipments from Smoore, a portion of which was recovered in the first quarter of 2024.
“It has been less than one year since my return to TILT, and we have made foundational progress in that time,” stated TILT’s chief executive officer, Tim Conder. “Despite the many challenges we faced throughout the year, our team has meaningfully improved operating efficiency, reduced operating expenses, and begun to restructure our debt to strengthen our balance sheet. Further, we have executed a refined brand partnership strategy in our plant-touching business, and now offer a more concentrated portfolio of strong, inhalation-focused brands that better align with our Jupiter hardware platform.”
Cannabis earnings and how to stay afloat among challenging conditions will be one of the hot topics at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 …