FLGC - Flora Growth expects 100% topline growth for fiscal 2023
- Flora Growth ( NASDAQ: FLGC ) provides revenue guidance of $90M-$105M for fiscal year 2023 that reflects expected organic growth in the House of Brands division and expansion of the Commercial & Wholesale division capabilities.
- It is expected that the House of Brands and Commercial & Wholesale divisions will have roughly equal contributions to the top line, while the Pharmaceutical division is expected to contribute up to 10% of total revenue.
- Luis Merchan, Chairman and CEO commented, “Our 2023 forecasted revenue range represents anticipated growth in excess of 100% over last year and highlights our continued momentum, despite a challenging macroeconomic backdrop that has disproportionately impacted the cannabis industry.”
- Stock climbed 26% pre-market.
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Flora Growth expects 100% topline growth for fiscal 2023