CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH) cannabis company operating as Cannabis Life Sciences announced its first quarter financial results on Thursday for the three months ended August 31, 2023, revealing a 15% year-over-year decrease in revenue to $5.1 million.
"In an industry that never lets up, we acknowledge that while we may be down 15% over the past year, we are proud of our achievements to date," Andrew Glashow, the company's chairman and CEO said.
Q1 2024 Financial Highlights
- Gross profit totaled $2.3 million, down 22% year-over-year from $2.9 million in the first quarter of fiscal 2024.
- Gross margin was 44%, compared to 48% in the corresponding period of fiscal 2024.
- Net ...