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Canadian cannabis producer and distributor Entourage Health Corp. (TSXV:ENTG) (OTCQX:ETRGF) (FSE:4WE) announced its second quarter financial results on Tuesday for the three-month period ending June 30, 2024.
The Toronto-based company reported a total revenue of CA$12.2 million ($9 million), including net revenue of $9.3 million before excise duties and discounts, representing a decrease from CA$13.4 million in the prior year's period. The company touted "strong impact" with new product launches in Alberta, Ontario and British Columbia.
Entourage also said it continues to see positive outcomes from its restructuring initiatives, with selling, general and administrative expenses showing a year-over-year drop.
"Overall, our year-to-date performance aligns with our expectations and prior achievements," said George Scorsis, the company's CEO and chair. "As we move into Q3 and beyond, we are optimistic about the opportunities ahead."
The company is focused on expanding our distribution channels across Canada, launching targeted products to satisfy diverse consumer preferences as well as forming strategic partnerships to scale operations and meet demand.
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