It’s time for your Daily Hit of cannabis financial news for October 1, 2019.
On The Site
Fire & Flower
Fire & Flower Holdings Corp. (TSX: FAF) its financial results for the second fiscal quarter ending August 3, 2019, with total revenue of $11.1 million versus $9.5 million for the same time period in 2018. The net loss for the quarter was $6.4 million versus last year’s net loss of $4.2 million for the same quarter. The net loss per share remained flat at ($0.06).
“Fire & Flower‘s financial and operational results for the quarter demonstrate that the company is continuing to build the infrastructure required to support the rapid growth of our retail network and deliver on our objectives,” shared Trevor Fencott, Fire & Flower’s, Chief Executive Officer. “Our strategic partnership with Alimentation Couche-Tard is transformative for the Company and the Hifyre digital retail platform continues to showcase Fire & Flower as a leading data-driven, ‘retail 2.0’ company.”
New Video from the Green Market Summit
Some customers want the best bang for the buck, while others only want the best. This panel from the Green Market Summit on September 11 in Los Angeles demonstrates what defines a luxury brand and how a company can back up the premium description on the label. Moderating this panel is Alyssa Jank of the Brightfield Group. The panelists include Tracey Mason, CEO House of Saka, Eric Eslao, CEO Défoncé, Yvonne De La Rosa, Founder 99 High Tide, and Estella Perez of the Garden Society.
In Other News
Grown Rogue International Inc. (CSE:GRIN | OTC: GRUSF) has released its financial and operating results for its fiscal third quarter ended July 31, 2019. Third quarter 2019 revenue was $0.8 million, a 14% increase over the comparable quarter from 2018. Adjusted Gross Profit was $0.2 million for the third quarter (31%) and $1.0 million for the year-to-date (29%). The quarterly margin rate represents a 12% improvement over the prior quarter (Q2 2019). Adjusted EBITDA was ($1.2) million for the third quarter, representing a $0.2m improvement over the comparable quarter in 2018. The net loss was $931,000.