In recent evaluations byZuanic & AssociatesandWater Tower Research LLC,Gold Flora Corporation(OTC:GRAM), a key player in the competitive California cannabis market, reported its financial outcomes for the fourth quarter of 2023.
Despite a strategic decision leading to an 11% sequential dip in revenue, dropping to $28.4 million, the company's focus on closing non-viable delivery depots and divesting an underperforming retail license has favorably impacted its profitability.
Adjusted gross profit surged by 11.60% quarter-over-quarter to $18.7 million, and adjusted EBITDA turned a positive corner at $105,000, improving from a negative $459,000 in the previous quarter.
Although the company made less...
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