Medicine Man Technologies, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
March 27, 2024 at 05:26 pm EDT
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Medicine Man Technologies, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported revenue was USD 172.45 million compared to USD 159.38 million a year ago. Net loss was USD 34.55 million compared to USD 18.47 million a year ago.
Basic loss per share from continuing operations was USD 0.66 compared to USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 0.66 compared to USD 0.49 a year ago.
Medicine Man Technologies, Inc., operating as Schwazze, is a vertically integrated multi-state cannabis operator. The Companyâs business involves the cultivation, manufacturing, distribution and retail sale of cannabis and cannabis-related products. The Company sells products it manufactures and cultivates and a variety of other cannabis goods through wholly owned retail stores, licensing arrangements, and/or third-party operators and retailers. It has three segments: Retail, Wholesale and Other. The Retail segment consists of retail locations for the sale of cannabis products. The Wholesale segment consists of manufacturing, cultivation and sale of both wholesale cannabis and non-cannabis products. The Other segment encompasses the Companyâs general corporate operations, in-store advertisements and certain vendor promotions. It has operations in Colorado and New Mexico. The Company owns and operates 63 retail dispensaries, six cultivation facilities and three manufacturing facilities.