STMH - Stem Holdings Inc. (STMH) - Reports Fiscal 2Q22 Operating Results

2QFY22 Results. Stem reported net revenue of $4.1 million compared to $5.5 million last year. The sales decline reflects a decrease in sales resulting from general market conditions. Stem reported a net loss of $3.5 million, or $0.02 per share, for the quarter. In the same period last year, Stem recorded a net loss of $8.6 million, or $0.06 per share. Outstanding shares increased to 223.7 million from 137.8 million. We had projected revenue of $4.2 million and a net loss of $4.0 million, or $0.02 per share. Segments. While the wholesale business saw a modest increase year-over-year, retail revenue declined to $3.2 million from $6.0 million year-over-year. We attribute the drop to a combination of a soft overall cannabis market and Stem's ongoing restructuring of its Oregon operations. Read More >>