California StateHouse Holdings Reports 10% YoY Revenue Increase As Capital Deficit Grows
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 30 2024
0mins
Source: Benzinga
Financial Performance: StateHouse Holdings Inc. reported a 10% increase in revenue for Q2 2024, reaching $27.8 million, with net income of $200,000 compared to a loss of $2.1 million in the same quarter last year. The company also improved its adjusted EBITDA to $4.9 million and launched 24 new high-margin products over the past year.
Market Position and Strategy: The company has successfully introduced new product lines that now account for 15% of year-to-date sales, demonstrating strong consumer engagement and operational performance in California's cannabis market, as stated by CEO Ed Schmults.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
