Sign In  |  Register  |  About San Rafael  |  Contact Us

San Rafael, CA
September 01, 2020 1:37pm
7-Day Forecast | Traffic
  • Search Hotels in San Rafael

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

InvestorNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Releases 2022 FY Financial Report, Including Triple-Digit Growth and $37.2M in Revenue

Flora Growth (NASDAQ: FLGC), a leading cultivator, manufacturer and distributor of global cannabis products and brands, has announced its 2022 financial and operating results for the fiscal year ended Dec. 31, 2022. Highlights of the report include $37.2 million in revenue for the year, which is a year-over-year increase of 314% and includes record revenue for the fourth quarter, which totaled $11.5 million, a 7% sequential increase over Flora Growth’s third quarter. Gross profit for the year increased 494%, from $2.4 million in 2021 to $14.4 million in 2022. According to the company, its 2023 revenue guidance will remain between $90 to $105 million. “In 2022, we not only met our revenue guidance but reported both quarterly and annual record revenue,” said Flora Growth chair and CEO Luis Merchan in the press release. “This accomplishment was thanks to the successful completion and integration of our M&A transactions, the compelling value proposition of our products in our house of brands and the operational milestones we achieved throughout the year. It is important to note that we have accomplished all this despite having to navigate one of the most hostile business environments to date, especially for the cannabis industry. Nonetheless, we achieved both quarterly and annual record revenue, improved margins and increased our gross profits — all while cutting costs and improving operational efficiencies. Today, I remain more confident than ever in Flora’s opportunity to not only be one of the largest players in the international cannabis industry but to change the global landscape of cannabis. I am proud to reaffirm the 2023 revenue guidance we shared earlier in the year of between $90 million and $105 million.”

To view the full press release, visit https://ibn.fm/oApK9

About Flora Growth Corp.

Flora Growth Corp. is a global cannabis company dedicated to bringing the benefits of cannabis to people worldwide. Our commitment is to create, master and connect the international cannabis supply chain by setting the standard for world-class cultivation and manufacturing, thoughtful brand development, and rigorous research and development of medical-grade cannabis products that meet the highest standards of quality, safety, and efficacy. Our mission is to create a world where the benefits of cannabis are accessible to everyone, and we are working toward that goal by becoming a leading importer and exporter of cannabis to meet demand in every corner of the market. For more information about the company, please visit www www.FloraGrowth.com

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanRafael.com & California Media Partners, LLC. All rights reserved.