Lowell Farms Q1 Insights: Working Loss Enchancment, CPG Income Plunge – Lowell Farms (OTC:LOWLF)

Lowell Farms Inc. LOWLF, a vertically built-in hashish firm, reported late Thursday its unaudited income and working outcomes for the primary quarter of 2023.

Lowell Farms managed to enhance its working loss, which was $2.3 million, a 5% enchancment from the identical interval final 12 months. In comparison with the earlier quarter, the working loss improved considerably by 64%.

The online loss for the primary quarter of 2023 was $4.0 million, barely decrease than the web lack of $4.1 million within the first quarter of 2022. Adjusted EBITDA, a non-GAAP monetary measure, was detrimental $1.1 million for the quarter, in comparison with detrimental $0.9 million within the first quarter of 2022.

Lowell Farms Q1 2023: A Abstract

• Internet income for Q1 2023 decreased by 39% to $7.5 million in comparison with the identical interval final 12 months.
• The decline in income was primarily attributable to a 49% lower in shopper packaged items (CPG) income and an 86% lower in Lowell Farm Companies income.
• Nonetheless, there was a 44% enhance in bulk income from self-grown wholesale merchandise in comparison with Q1 2022, though there was a 9% lower in comparison with the earlier quarter.
• Regardless of a 31% lower in quantity, the realized value per pound elevated by 24% in Q1 2023.
• The corporate reported a gross revenue of $0.1 million, reflecting a gross margin of 1.8%, which is decrease than the 12.7% gross margin in Q1 2022.
• Lowell Farms improved its working loss, which was $2.3 million, representing a 5% enchancment from the identical interval final 12 months.
• In comparison with the earlier quarter, the working loss considerably improved by 64%.
• The online loss for Q1 2023 was $4.0 million, barely decrease than the web lack of $4.1 million in Q1 2022.
• Adjusted EBITDA, a non-GAAP monetary measure, was detrimental $1.1 million for the quarter, in comparison with detrimental $0.9 million in Q1 2022.

Photograph: alohamalakhov through Pixabay.