The Daily Hit: December 1st, 2020

It’s time for your Daily Hit of cannabis financial news for December 1st, 2020.

In Other News

Choom Announces Results from Q1

Canadian-based retail cannabis store, Choom, has announced their first quarter results from 2021. The company reported a record revenue of $6.1 million. This is up 50%, by $2 million, from Q4 2020’s $4.1 million revenue. 

In addition to increasing their revenue, Choom reported a 3.06% increase in their gross margins. Q1 2021’s gross margin totaled 36.33%, while Q4 2020 reached 33.26%. The press release reads: “Choom continues to make strides in our strategic path to profitability, increasing sales while right sizing expenditures, improving margins, and inventory efficiency through our centralized product team resulting in a positive adjusted EBITDA for the quarter of $35k.”

In addition to their financial success, Choom proudly reopened one of their stores in Q1 that closed down due to COVID-19. They also opened another one during Q2, bringing the company’s open and operating store count to 14. 

Kaitlin Domangue

Kaitlin is a 23-year-old wife and mom to three children. She is a financial reporter for the Green Market Report and a freelance writer for other businesses in the cannabis space.

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.

About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


Back to Top