Medical Marijuana Touts Positive Adjusted EBITDA In Q3, Net Revenue Of $12.2 Million
Medical Marijuana Inc. (PINK: MJNA) has generated $12.2 million in net revenue over the third quarter. That's a sequential increase of 11.25%.
The earnings report came on the heels of entering the CBN market through its subsidiary Kannaway.
The San Diego cannabis company also reported a positive adjusted EBITDA of $175,755.
Gross profit for the quarter amounted to $9.1 million, as GAAP Sales and Marketing expenses dropped as a percentage of sales from 51.9% to 49.3%, on a sequential basis.
Kannaway's Japanese division saw its best revenue month ever in August.
In July, HempMeds …