SLANG Worldwide Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 29, 2022 at 06:19 pm IST
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SLANG Worldwide Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was CAD 8.17 million compared to CAD 9.36 million a year ago. Net loss was CAD 6.36 million compared to CAD 7.48 million a year ago. Basic loss per share from continuing operations was CAD 0.06 compared to CAD 0.08 a year ago. Diluted loss per share from continuing operations was CAD 0.06 compared to CAD 0.08 a year ago. Basic loss per share was CAD 0.06 compared to CAD 0.09 a year ago.
For the nine months, revenue was CAD 26.41 million compared to CAD 28.94 million a year ago. Net loss was CAD 14.66 million compared to CAD 19.65 million a year ago. Basic loss per share from continuing operations was CAD 0.14 compared to CAD 0.22 a year ago. Diluted loss per share from continuing operations was CAD 0.14 compared to CAD 0.22 a year ago. Basic loss per share was CAD 0.15 compared to CAD 0.24 a year ago.
SLANG Worldwide Inc. is a Canada-based cannabis consumer packaged goods company with a portfolio of various brands. The Company owns, licenses and/or markets five brands, which serve three categories: flower, inhalable concentrates and ingestible. Its portfolio consists of three distinct consumer packaged goods (CPG) brands, one retail brand and a product portfolio of 30 stock keeping units (SKUs). The Company brings its products to market through three channels: Core Markets-Colorado and Vermont, Emerging Markets-Strategic Partnerships in nine States and THC Free-Distribution & Ecommerce. Its Core Markets include Colorado and Vermont. Its Emerging Markets include Florida, Maine, New Mexico, Michigan, Pennsylvania, Washington, West Virginia, Maryland and Puerto Rico. Its THC Free includes dry herb vaporizer, the Firefly 2+, line of Alchemy Naturals CBD gummies, as well as batteries and various other product components including packaging and hardware.