Cannabis-Focused RIV Capital Reports 186% YoY Surge In Q3 Revenue Ahead Of Major Merger That Will Cover 25% Of US Population
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 29 2024
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Source: Benzinga
Financial Performance: RIV Capital Inc reported a significant increase in net revenue for Q3 2024, reaching $4.9 million, driven by strong retail sales in New York and a surge in wholesale revenue; however, the company faced a net loss of $63.4 million due to non-cash impairments.
Merger Plans: The company is set to merge with Cansortium Inc. by December 2024, aiming to enhance its market presence and serve 25% of the U.S. population through an expanded network of cultivation and retail facilities.
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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.
