'Inflationary Pressures Continue To Impact" Cannabis Industry, Says C21 As It Reports Net Loss And Decline In Nevada Sales

Financial Performance: C21 Investments reported a revenue of $6.6 million for the first quarter ending June 30, 2023, marking a slight increase despite a 1% decline in Nevada sales, with gross margins affected by inventory issues related to the launch of a new dispensary.

Operational Highlights: The company experienced a net loss of $1.4 million but maintained positive cash flow from operations and completed the acquisition of a third dispensary, which was rebranded and became operational at the end of the quarter.