StateHouse Reports First Quarter 2024, Fourth Quarter 2023, and Full Year 2023 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
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Source: Globenewswire
Financial Performance: StateHouse Holdings Inc. reported a strong Q1 2024 with net revenues of $25.4 million and a gross margin of 46.5%, marking an improvement from the previous year, while also achieving significant market share gains to become the 4th largest cannabis brand operator in California.
Operational Enhancements: The company has focused on cost reductions and operational efficiencies, including automation in manufacturing, which has led to increased production capacity and reduced labor costs, alongside the introduction of new products that contributed to approximately 15% of total sales in 2024.
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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.
