The Cannabist Company Reports Third Quarter 2024 Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 07 2024
0mins
Source: Businesswire
Financial Performance: The Cannabist Company reported a revenue of $114.8 million for Q3 2024, an 8% decrease from the previous quarter, with a net loss of $1.76 million. Adjusted EBITDA was $14.8 million, reflecting a decline due to asset sales in Virginia and Arizona.
Strategic Changes: The company is undergoing a transformation by divesting unprofitable locations and focusing on markets with growth potential, such as Ohio, while aiming for an adjusted EBITDA margin above 20% in 2025.
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.
