C21 Investments (TSE:CXXI) has released an update.
C21 Investments Inc., a vertically integrated cannabis company, has reported a slight dip in annual revenue to $28.3 million, a 2% decrease from the previous year, with a gross margin decline to 39.4% due to one-time items. Despite the downturn, the company maintained positive free cash flow for the fifth consecutive year, at $2.7 million, and reduced total liabilities by $1.5 million. The fourth quarter showed signs of recovery with a 1% increase in same store sales and improved gross margins, signaling potential growth as C21 prepares to expand its retail presence with a new dispensary in Southern Reno.
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