Here’s a summary of the latest earnings updates in the cannabis industry:
Fire & Flower’s Revenue Spikes 158% YOY
Moreover, it posted a negative adjusted EBITDA of $300,000 versus a $4.8 million loss in the same quarter last year.
Chief executive Trevor Fencott said the company continues to “drive towards delivering positive adjusted EBITDA,” adding that they have made “meaningful progress towards this critical goal during the quarter.”
Fire & Flower posted that its total expenses amounted to $12.5 million. Loss from operations was $2.56 million.
Over the quarter, the Edmonton, Alberta-based company managed to repay debt worth $28.2 million.
Meanwhile, some of the recent moves Fire & Flower opted for include the $750,000 purchase of an Ontario-based cannabis store from Meta Growth Corp., and a partnership with WeedMD Inc. (TSX-V: WMD) (OTCQX: WDDMF).
As a part of the deal with …