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Earnings Call Summary | SLANG WORLDWIDE INC(SLGWF.US) Q4 2023 Earnings Conference

moomoo AI ·  Apr 12 12:18  · Conference Call

The following is a summary of the SLANG Worldwide Inc. (SLGWF) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • SLANG Worldwide reported a gross profit of $18.68 million before fair value adjustment of biological assets in 2023, an increase of 6.0%.

  • The company successfully reduced operating expenses to $24.61 million, marking a 21% decrease.

  • Q4 2023 revenue was $7.42 million, a decrease of 37% compared to Q4 2022, mainly due to challenging market conditions in Colorado and Vermont.

  • Full fiscal year 2023 revenue also decreased by 7% YoY to $35.68 million.

  • The company reported an adjusted EBITDA loss of $1.9 million in fiscal 2023, an improvement from a loss of $3.65 million in fiscal 2022.

Business Progress:

  • SLANG Worldwide expanded into new markets, including Maryland and West Virginia in 2023, and plans to launch its vape brand in Arizona.

  • The company unveiled a 2-gram disposable vape line and launched a THC-Free product line which contributed to a 54% YoY increase in e-commerce sales.

  • SLANG has moved into Vermont's retail market with wholesale sales reaching over $1 million.

More details: SLANG WORLDWIDE INC IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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