CNTMF - This Cannabis Company Reports Robust Growth Revenue Up 14% To $25.3M Florida Sales Surge 17% | Benzinga
Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF), a vertically-integrated, multi-state cannabis company operating under the FLUENT brand announced financial and operating results for the third quarter ended September 30, 2023.
"We generated record revenue and cash flow generation during the third quarter as we continued to execute on our growth objectives despite a seasonally slow period in Florida,” stated CEO Robert Beasley. "Adjusted EBITDA was offset by increased headcount to keep pace with new store openings, however, these investments are critical in laying the foundation for growth and supporting our future plans."
Q3 2023 Financial Highlights
- Revenue Growth: The company experienced a 14% increase in revenue, reaching $25.3 million compared to $22.1 million in Q3 2022.
- Florida's revenue saw a significant uptick, rising by 17% to $21.3 million from $18.2 million ...