The following is a summary of the Medicine Man Technologies, Inc. (SHWZ) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Medicine Man Technologies (Schwazze) reported Q4 revenue of $43.3 million, up by 8%.

• The company had a significant gross profit of $7 million (16% of total revenue) with an adjusted gross profit of 47% of the total revenue.

• Operating expenses decreased compared to the previous year, accounting for 54% of the revenues.

• The company reported an operating loss of $16.2 million.

• Schwazze ended the year with a cash position of approximately $19 million and generated $12 million from its operations.

Business Progress:

• Schwazze reported a high single-digit sales growth and expanded its store footprint by more than 50% in competitive markets.

• There is expected store closure in New Mexico due to regulatory efforts, and this is expected to continue through 2024.

• Wholesale penetration improved three times in 2023, exceeding 27% in Colorado and New Mexico.

• The company plans to launch Lowell Farms in New Mexico and Everyday Weed in Colorado in Q2 2024.

• Expectations of regulatory changes could have a significant impact on cash flow generation and the overall perspective of the cannabis industry.

• The company aims to continue its retail development in New Mexico and Colorado and is exploring new brand development.

More details: MEDICINE MAN TECHNOLOGIES INC IR

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