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As cannabis earnings season continues, Benzinga took a look at the quarterly prints from four companies in the sector Monday.
4Front Ventures Corp. (CSE:FFNT) (OTC:FFNTF) posted third-quarter financial results Friday that included systemwide pro forma revenue of $16.9 million, up by 20% from the previous quarter.
The company reported IFRS revenue of $7.52 million and an adjusted EBITDA loss of $4.61 million.
The quarterly net loss was $6.86 million versus a net loss of $2.64 million in the same quarter of 2018.
4Front Ventures finished the quarter with $12.4 million in cash and said it expects to end November with around $13 million in cash and undrawn loans.
The stock was down 1.73% at 40 cents at the time of publication Monday.
Cannabis company WeedMD Inc. (TSXV:WMD) (OTC:WDDMF) reported third-quarter net revenue Friday of CA$6.7 million ($5.04 million), down from CA$7.98 million one quarter earlier.
WeedMD disclosed a quarterly adjusted EBITDA loss of CA$1.97 million versus an adjusted EBITDA loss of CA$662,822 in the prior quarter.
The company posted a net and comprehensive loss of CA$13.4 million versus net and comprehensive income of CA$12.62 million in the previous quarter.
WeedMD shares were down 8.06% at 76 cents at the time of publication.
FSD Pharma Inc. (CSE:HUGE) (OTC:FSDDF) reported third-quarter revenue Friday of CA$12,805 versus revenue of CA$13,833 one year ago.
The company posted a net loss of CA$16.7 million or CA$2.20 per share.
The stock was down 4.3% at $4.60 at the time of publication.
Vertically integrated cannabis consumer packaged goods company 1933 Industries Inc. (CSE:TGIF) (OTC:TGIFF) reported fourth-quarter and annual financial results Thursday, with annual revenue of CA$18.06 million, higher than 2018's CA$12.55 million.
The company's annual net loss of CA$19.11 million is more than triple the CA$5.73-million figure one year ago.
The adjusted annual EBITDA loss of CA$10.11 million is an increase over its CA$3.08-million loss in 2018.
1933 Industries shares were trading up 0.98% at 17 cents at the time of publication.
Posted In: CSE:FFNT CSE:HUGE CSE:TGIF FFNTF FSDDF TGIFF TSXV:WMD WDDMF
