JSDA - Mary Jones Cannabis Sodas' Revenue Drop Q3 Was 'More Challenging Than Expected' CEO Says | Benzinga
Jones Soda Co. (CSE: JSDA) (OTCQB: JSDA) reported its financial results on Thursday for the third quarter ended September 30, 2023.
"While the third quarter was more challenging than originally anticipated, we continued to make noteworthy progress towards profitability and I believe we are setting the stage for encouraging growth initiatives in 2024,” David Knight, president and CEO of Jones Soda, said. "Looking at Mary Jones, we grew our cannabis-related revenue by 93% year-over-year as we continue to take market share and launch new products in California.”
Q3 2023 Financial Highlights
- Revenue was $4.5 million compared to $4.8 million, in the prior year’s period.
- Revenue from the company’s Mary Jones cannabis business totaled roughly $220,000.
- Gross profit as a percentage of revenue increased 600 basis points to 32.9% compared to 26.9% in the third quarter of 2022.
- Net loss improved to $0.9 million year-over-year to a ...