IMCC - Flora Growth Goes Back To Net Loss In Q1 Positive About 'Landmark Reform' In The US Focuses On Europe | Benzinga
Florida-based cannabis company Growth Corp. (NASDAQ:FLGC) reported its financial and operating results Tuesday for the first quarter ended March 31, 2024, disclosing a net loss of $3.4 million, compared to a net loss of $3.9 million in the same quarter last year. Per the company's filing with the Securities and Exchange Commission, quarterly revenue was $18.03 million, which compares to $19.3 million in the same period of 2023.
“2024 has been a catalyst-rich period for Flora. Legislators in the primary markets in which we operate, namely the U.S. and Germany, have demonstrated a willingness to advance a progressive cannabis agenda," stated Clifford Starke, chief executive officer. "In Germany, the de-scheduling of cannabis, the reforms surrounding cultivation for personal use, the establishment of cannabis social clubs, and the removal of cannabis from the list of prohibited substances in the Narcotics Act, represent historical milestones."
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