BMMJ - Body and Mind Reports Revenue Dip In 2023 But CEO Is Optimistic About Future Growth | Benzinga
Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) announced its financial results on Tuesday for the fiscal year ended July 31, 2023, revealing a 2.4% year-over-year decrease to $22.8 million.
"This year has been focused on streamlining our assets and operations in support of developing what we believe to be our highest returning capital projects in the Illinois and New Jersey markets," Michael Mills, CEO of Body and Mind said. "The recent sale of our Ohio dispensary resulted in full repayment of our senior secured lender, improved our balance sheet, and resulted in reduced interest expenses by roughly $1 million per year. Our divestment of the Ohio processing operation is anticipated to provide an additional $2 million in incremental capital before the end of November 2023 which we plan to use to fund our dispensaries under development.”
FY 2023 Financial Highlights
- Gross profit totaled ...