The following is a summary of the Gold Flora Corporation (GRAM) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Gold Flora Corporation reported a Q4 2023 revenue of $28.4 million, decreased from the previous quarter due to strategic offloading of underperforming assets.

• Gross profit for Q4 stood at $13.2 million reflecting a 16% increase and representing a gross margin of 46%. On an adjusted basis, gross profit was $18.7 million or an adjusted gross margin of 66%.

• The company achieved positive adjusted EBITDA for Q4 2023 and identified synergies equating to about $30 million in annual cost savings post-July merger.

Business Progress:

• Gold Flora expanded its cultivation canopy and completed the buildout of the Desert Hot Springs campus and reactivated cultivation in San Jose.

• The company launched a new brand, Gramlin, appealing to high-volume customers and observed an 8% increase in the number of dispensary accounts purchasing from Stately.

• A new retail store was opened in Corona, California, with plans for further expansion in 2024.

• The company targets to increase their own products' share in their first-party stores from the current 22% to above 30% while also expanding their presence in third-party retail stores.

• The company aims to maintain positive adjusted EBITDA throughout 2024 and beyond, while targeting to match EBITDA margins of larger operators.

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