CXXIF - Vancouver Cannabis Producer Reports 17th Consecutive Quarter Of Positive Cash Flow Amid Industry Headwinds | Benzinga
Cannabis company C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) reported its unaudited interim financial results on Thursday for the second quarter of fiscal 2023, the seventeenth consecutive quarter of positive free cash flow.
"We are pleased to report strong cash flow generation and stable revenues again this quarter given the industry headwinds persisting in the first half of the year," Sonny Newman, the company's CEO and president said. "Despite market conditions, we experienced our first increase in same-store sales since 2021, a testament to the strength of our loyal customer base and a stabilizing market environment."
Q2 2023 Financial Highlights
- Revenue totaled $7.16 million, slightly down from $7.17 million in the same quarter of 2022.
- Gross profit was $2.8 million, down from $3.8 million in the corresponding quarter of ...