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TILT Holdings Q1 Revenue Down, Net Loss Up Due To Lower Prices, Optimistic On Rescheduling, Plans To Address Debt

Benzinga ·  May 16 08:46

TILT Holdings(CBOE: TILT) (OTCQB:TLLTF), reported financial and operating results for the first quarter that ended March 31, 2024, with revenueof$37.5 million down by 11.3%from $42.3 million in the prior year period. The Arizona-based company said the expected decrease in revenue was mainly due tolower sales volume and price compression in Massachusetts and Pennsylvania, as well as lower Jupiter average price per unit for certain product lines.

"We continue to navigate the company's transition from operational improvement to revenue growth," stated TILT's CEOTim Conder. "Although the cannabis industry has been facing challenges related to hardware...

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