Cansortium ( (CNTMF) ) has released its Q4 earnings. Here is a breakdown of the information Cansortium presented to its investors.
FLUENT Corp., a vertically-integrated, multi-state cannabis company, operates across Florida, New York, Pennsylvania, and Texas, focusing on retail, wholesale, and cultivation operations. In its latest earnings report, FLUENT Corp. announced a 6.4% increase in annual revenue, reaching a record $103.6 million. The company also highlighted its strategic acquisition of RIV Capital, which expanded its operations into the New York market, and a successful debt refinancing that bolstered its financial position.
Key financial metrics from the report include a gross profit of $50.3 million for the year, with a gross margin of 48.6%. Despite a slight decline in adjusted EBITDA to $25.0 million, FLUENT Corp. ended the fiscal year with over $40 million in cash, positioning itself for future growth. The company also reported an impairment of intangible assets related to its Florida cannabis license, reflecting market pressures in the state.
Operationally, FLUENT Corp. expanded its brand presence with new product launches in New York and Florida, and progressed construction on a new cultivation facility in Tampa. The acquisition of RIV Capital added significant retail and cultivation capabilities in New York, enhancing the company’s multi-state footprint.
Looking ahead, FLUENT Corp. remains focused on optimizing its operational footprint and leveraging its expanded platform for continued success. Despite challenges in the broader cannabis market, the company is poised to capitalize on its strategic initiatives and market expertise to drive future growth.