GRAM - Woman-Owned Gold Flora's Strategic Cannabis Blueprint: 30% In-House Sales Boost Profits EBITDA Rise | Benzinga
In recent evaluations by Zuanic & Associates and Water Tower Research LLC, Gold Flora Corporation (OTC: GRAM), a key player in the competitive California cannabis market, reported its financial outcomes for the fourth quarter of 2023.
Despite a strategic decision leading to an 11% sequential dip in revenue, dropping to $28.4 million, the company’s focus on closing non-viable delivery depots and divesting an underperforming retail license has favorably impacted its profitability.
Adjusted gross profit surged by 11.60% quarter-over-quarter to $18.7 million, and adjusted EBITDA turned a positive corner at $105,000, improving from a negative $459,000 in the previous quarter.
Although the company made less money this period, dropping to $28.4 million, its profits rose to $18.7 million, and it earned more money than it spent, making $105,000 compared to losing $459,000 in the previous quarter.
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