CCHWF - Columbia Care falls 6% on quarterly revenue fall Y/Y

2023-03-29 13:15:07 ET

• Columbia Care ( OTCQX:CCHWF ) is trading ~6% lower after its quarterly revenue fell year over year as wholesale revenue declined due to pricing pressure and intentional inventory management and macroeconomic headwinds.
• Revenue fell 9.4% Y/Y to $126.19M, while Q4 GAAP EPS was -$0.75 .
• "Our strategic position in the fastest growing markets in the country continues to drive revenue and earnings growth, as we see an increasing contribution from markets such as New Jersey and Virginia,” said Nicholas Vita, CEO of Columbia Care.
• “We are focusing our footprint on those markets that can drive the most value for our patients, customers, and shareholders – and reducing exposure in markets that do not contribute to the bottom line," Vita added.
• Press Release

For further details see: