Lowell Farms Inc (XCNQ:LOWL)
C$ 0.01 0 (0%) Market Cap: 181,000.00 Enterprise Value: 24.71 Mil PE Ratio: 0 PB Ratio: 0.02 GF Score: 0/100
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Q2 2024 Lowell Farms Inc Earnings Call Transcript

Aug 13, 2024 / 09:30PM GMT
Release Date Price: C$0.035

Key Points

Positve
  • Successfully rehabilitated several key accounts, improving financial health.
  • Expanded sales force in various territories throughout California to drive revenue growth.
  • Onboarded three new distribution brands, contributing to revenue generation.
  • Edibles category saw substantial growth with a 21.8% increase in revenue.
  • Implemented cost reduction initiatives, leading to a decrease in operating expenses.
Negative
  • Net revenue decreased by 27% sequentially and 35% year over year.
  • CPG revenue declined 15% sequentially and 21% year over year.
  • Gross margin was negative 15.7%, reflecting operational inefficiencies.
  • Operating loss for the second quarter was $2.2 million.
  • Adjusted EBITDA was negative $1.9 million, indicating ongoing financial challenges.
Operator

Good day, everyone, and welcome to today's Lowell Farms Inc. second quarter 2024 earnings conference call. (Operator Instructions) Please note today's call will be recorded, and I will be standing by, should you need any assistance?

It is now my pleasure to turn the conference over to Bill Mitoulas with Investor Relations. Please go ahead.

Bill Mitoulas
Lowell Farms Inc - Investor Relations

Good afternoon and welcome to the conference call to discuss Lowell Farms Incorporated financial results for the second quarter of 2024. Before we begin, please let me remind you that during the course of this conference call, Lowell Farms Incorporated management may make forward-looking statements.

These forward-looking statements are based on current expectations that are subject to risks and uncertainties and may cause actual results to differ materially from expectations. These risks are outlined in the risk factors section of our Form 10 filed on EDGAR and our listing statements filed on SEDAR.

Any forward-looking statements should be

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