2Q22 Results. Revenue for the quarter totaled $44.3 million, up from $31.8 million in the first quarter and $30.7 million a year ago. The increase was mostly due to acquisitions as the Colorado market continued to experience softness from the 2021 COVID highs. Adjusted EBITDA was $15.0 million in the quarter, up from $10.0 million a year ago. Schwazze reported operating income of $9 million and net income of $32.1 million, or $0.24 per diluted share, versus $4.4 million and $0.08 last year. We had forecast revenue of $39 million and a net loss of $1.6 million, or $0.03 per share.Metrics. For the sixth consecutive quarter, Schwazze outpaced the Colorado industry, this time by 11%, but ongoing weakness in the Colorado market resulted in declines in key performance metrics. Colorado two year stacked IDs for same store sales in the second quarter were up 1.8%, although one year were down 12.7%. The same measurements for New Mexico were up 41% and 30.4%, respectively. Average basket size fell in both markets. Read More >>