FLGC - Flora Growth Corp. (NASDAQ: FLGC) 7x YOY Revenue Growth for H1 2022 Affirms Hyper Growth
- H1 2022 revenue increased to ~$15.0 million, up 604% from H1 2021 and 117% from H2 2021, driven by House of Brands
- Gross Profit increased to ~$7.0 million, up 547% compared to H1 2021 and 363% compared to H2 2021
- Company reaffirms its 2022 revenue guidance to range between $35.0 million – $45.0 million, indicating approximately 300% – 400% projected revenue growth from 2021
In August, Flora (NASDAQ: FLGC) released its financial and operating results for the six months that ended June 30, 2022 (https://cnw.fm/4Oeqb). As an internationally focused cannabis company, the organization’s management acknowledged how challenging the current global cannabis environment is. However, it also lauded the team’s ability to deliver on plan and the overall company’s focus on its goals for the current financial year.
The release indicated that Flora posted total revenue of $14.9 million for the first half of the 2022 fiscal year (“H1 2022”), 7x year-over-year (“YOY”) growth, and 2x sequential growth. This growth was attributed to Flora’s...
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at http://cnw.fm/FLGC
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