Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Goodness Growth Holdings, Inc.,(CSE:GDNS) (OTC:GDNSF) cannabis company reported its financial results Tuesday morning for the fourth quarter and the entire fiscal year of 2023. The Minneapolis-based firm reported Q4 2023 revenue of $24.2 million, a robust increase of 34.4% compared to the previous year, excluding discontinued operations.
Additionally, the operating income for the same quarter stood at $5.4 million, marking the second consecutive quarter the company's operating income surpassed the $5 million threshold.
Interim CEO Josh Rosen highlighted 2023 as a transformative year, emphasizing the successful execution of the CREAM & Fire strategy, which led to continuous improvements in revenue, gross margin, and operating profit.
Amber Shimpa, president and CEO of Vireo Health of Minnesota, a subsidiary, underscored the operational improvements and the anticipation for the launch of adult-use cannabis sales in Minnesota in 2025.
Learn more about these essential issues at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn, and grow. Get your tickets now on bzcannabis.com – Prices will increase very soon!
The company reported total current assets of $148.9 million as of December 31, 2023, with $16.0 million in cash.
Despite facing challenges, including a total of $179.5 million in current liabilities and ongoing discussions to remain compliant with credit agreements, Goodness Growth Holdings remains optimistic.
Goodness Growth reported that the anticipated divestiture of its New York operations is a strategic move to de-risk its balance sheet. ACE Venture Enterprises, Inc., a minority-owned business, is set to acquire Vireo Health of New York, aiming to fast-track its entry into the New York market.
As part of the strategy to ensure the long-term success of both organizations, Ace plans to retain Goodness Growth through a collaborative advisory agreement. The deal's terms outline a purchase price ranging from $3 to $5 million, coupled with a significant investment of $20 million from Ace for the development of the Johnstown cultivation and manufacturing campus, alongside Ace’s assumption of the IIP lease.
Learn more about these essential issues at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn, and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. Get your tickets now on bzcannabis.com – Prices will increase very soon!
Photo: AI-Generated Image.