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Lowell Farms Inc. (CSE:LOWL) (OTCQX:LOWLF), a California cannabis company, announced its unaudited revenue and operating results late Tuesday for the first quarter and fiscal year ended March 31, 2022.
“For the second quarter in a row, Lowell Farms has taken the lead as California’s largest combined seller of packaged flower and all-flower pre-rolls in California per Headset,” stated co-founder and CEO Mark Ainsworth in a press release. “You get there by selling a consistent, quality product that consumers have learned to trust and that is exactly what we sell.
“We also continue to make great strides with our out-of-state licensing partnerships, rising to become one of the top players in both of those markets for pre-rolls. That is a strong statement about the power of that brand,” Ainsworth added.
Lowell Farms saw its flower production at the greenhouse continue to steadily increase, with flower products totaling 8,356 lbs during the first quarter of 2022 in comparison to 4,724 lbs in the first quarter of 2021. The Company harvested 41 times in the first quarter of 2022; in contrast to 37 harvests in the first quarter of 2021.
The average turn time for the flowering rooms has seen continued improvement and is now at 58 days in the first quarter of 2022 compared to 74 days in the first quarter of 2021.
Image By Ilona Szentivanyi.