Fire & Flower Holdings Corp. (OTCQX:FFLWF) (TSX:FAF) released its financial results for the 9-week period of the fourth quarter and the 48-week fiscal year ended December 31, 2022 due to the company's revised fiscal year end.
Q4 2022 Financial Highlights
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Revenue was CA$30.5 million ($22.3 million) for the 9-week Q4 2022, a decrease of 28% compared to CA$42.7 million for the 13-week Q4 2021.
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Gross profit of CA$7.4 million (24.3% of revenue) for the 9-week fourth quarter of 2022, compared to CA$13.7 million (32.1% of revenue) in Q4 2021.
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Adjusted EBITDA was negative CA$3.8 million for the 9-week Q4 2022, compared to negative CA$2.4 million in Q4 2021.
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Net loss was CA$29.9 million for the 9-week Q4 2022, including restructuring and impairment charges of CA$45.7 million and CA$21.5 million million for the respective periods, compared to a loss of CA$19.4 million in Q4 2021.
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Cash balance of CA$12.4 million.
FY 2022 Financial Highlights
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Consolidated revenue of CA$156.0 million for the 48-week fiscal year 2022, a decrease of 11% compared to CA$175.5 million for the 52-week FY 2021.
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Consolidated gross profit of CA$41.1 million (26.4% of revenue) for the 48-week fiscal year 2022, compared to gross profit of CA$62.1 million (35.4% of revenue) in FY 2021.
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Adjusted EBITDA of negative CA$15.0 million for the 48-week fiscal year 2022, compared to positive CA$5.1 million in FY 2021.
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Net loss of CA$89.5 Million for the 48-week fiscal year 2022, compared to a loss of CA$63.6 million in FY 2021.
"2022 was a turnaround year for Fire & Flower, represented by three consecutive quarters of same store sales and gross margin growth. We look to 2023 as a transformative year where we anticipate achieving positive adjusted EBITDA during the first half of the fiscal year through a disciplined approach to our core retail business, driving top line revenue, gross profit dollars and reducing our overhead expenses. We are delivering higher gross margin percentages with increased retail foot traffic, consumer price credibility and using our advanced Hifyre data capabilities to ensure that we have the most in-demand products for our customers," stated Stéphane Trudel, CEO of Fire & Flower.
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火花控股公司。(OTCQX：FFLWF)(多伦多证券交易所股票代码：FAF)公布了截至2022年12月31日的第四季度9周期间和48周财年的财务业绩，原因是该公司修订后的财政年度结束。
问题42022年金融亮点
2022年第四季度9周的收入为3050万加元(2230万美元)，与2021年第四季度13周的4270万加元相比下降了28%。
毛利润740万加元(占收入的24.3%)2022年第四季度为9周，而2021年第四季度为1370万加元(占收入的32.1%)。
调整后的EBITDA在2022年第四季度为负380万加元，而2021年第四季度为负240万加元。
2022年第四季度的净亏损为2,990万加元，包括相应期间的重组和减值费用4,570万加元和2,150万加元，而2021年第四季度亏损1,940万加元。
现金余额1,240万加元。
2022财年财务亮点
2022财年48周的综合收入为1.56亿加元，与2021财年52周的1.755亿加元相比下降了11%。
合并毛利润为4,110万加元(占收入的26.4%)2022财年为48周，而2021财年的毛利润为6210万加元(占收入的35.4%)。
调整后的EBITDA在2022财年48周为负1500万加元，而2021财年为正510万加元。
2022财年48周的净亏损为8950万加元，而2021财年的亏损为6360万加元。
“对Fire&Flower来说，2022年是扭亏为盈的一年，同店销售额和毛利率连续三个季度增长。我们预计2023年是变革性的一年，我们预计通过对核心零售业务采取有纪律的方法，推动营收、毛利美元和减少管理费用，在本财年上半年实现正调整的EBITDA。我们正在提供更高的毛利率百分比，零售客流量增加，消费者价格可信度增加，并使用我们先进的Hifyre数据功能，以确保我们为客户提供最受欢迎的产品StéPhane Trudel，Fire&Flower的首席执行官。
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