Goodness Growth Holdings Inc ( (VREOF) ) has released its Q4 earnings. Here is a breakdown of the information Goodness Growth Holdings Inc presented to its investors.
Goodness Growth Holdings Inc., operating in the medical cannabis sector, is recognized for its entrepreneurial drive and commitment to stakeholders, including customers, employees, and shareholders. The company recently announced its fourth quarter and full-year 2024 financial results, highlighting record revenue, gross profit margin, and operating income.
For fiscal year 2024, Goodness Growth reported a revenue of $99.4 million, marking a 15.4% increase from the previous year when excluding discontinued operations. The fourth quarter revenue stood at $25.0 million, reflecting a 3.5% year-over-year increase. The company closed the year with $91.6 million in cash, bolstered by a private placement in December.
Key financial metrics included a gross profit of $50.8 million, up 15.1% from the previous year, and an adjusted EBITDA of $25.1 million, a 28.4% increase. Despite a net loss of $28.0 million for the year, the company remains optimistic about its future, driven by pending merger transactions and growth investments.
Looking ahead, Goodness Growth Holdings Inc. is poised for a transformational 2025, with management expressing confidence in their strategic direction and the company’s ability to capitalize on growth opportunities, particularly in the Minnesota market with the launch of adult-use sales.
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