VEXTF - This Cannabis Co. Expects Significant Growth Once Ohio's Retail Market Launches Reports Slight YoY Decrease In 2023 Revenue | Benzinga
Vext Science, Inc. (CSE:VEXT) (OTCQX:VEXTF), which runs vertical cannabis operations in Arizona and Ohio, reported its financial results on Friday for the period ended Dec. 31, 2023.
Revenue for 2023 slightly dropped year-over-year to $34.8 million from $35.4 million in 2022. Fourth quarter revenue grew year-year to $8.4 million, from $8.1 million in the prior year's quarter.
“Despite sustained pressure on the consumer and ongoing market-specific challenges in Arizona, Vext continued to perform better than the market during Q4, and completed initiatives that will prepare it for growth in Ohio as that market transitions to adult-use in 2024," Eric Offenberger, CEO of Vext said. "During the year, we enhanced our balance sheet ...