TECH - Item 9 Labs (INLB) - Slowly Building Up

2Q Results. Item 9 Labs' management announced total revenue of $6.6 million, an increase of 6% or $0.5 million over the prior year's $6.1 million. We had forecasted $7.3 million. Gross profit was $2.7 million versus the prior year of $3.0 million. Net loss for the quarter was $3.9 million, or $0.04 per share, from last year's net income of $49,020, or breakeven. Adjusted EBITDA decreased by $1.9 million to a loss of $0.9 million from income of $1.0 million last year.Down the Path of Unity Rd. Highlights for Unity Rd. for the quarter include approval for plans and permitting for a dispensary in Maine, the expansion into Oklahoma in January, the first corporate owned Denver dispensary, and the asset purchase agreement for the Company's future flagship dispensary and cultivation facility in Denver. All these events give credence to Item 9 Labs' franchise growth strategy. Read More >>