SLANG Worldwide Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 25, 2022 at 07:32 am EDT
Share
SLANG Worldwide Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported revenue was CAD 9.87 million compared to CAD 10.5 million a year ago. Net loss was CAD 3.91 million compared to CAD 3.89 million a year ago. Basic loss per share from continuing operations was CAD 0.03 compared to CAD 0.05 a year ago. Diluted loss per share from continuing operations was CAD 0.03 compared to CAD 0.05 a year ago. Basic loss per share was CAD 0.03 compared to CAD 0.05 a year ago.
For the six months, revenue was CAD 18.24 million compared to CAD 19.58 million a year ago. Net loss was CAD 8.3 million compared to CAD 12.17 million a year ago. Basic loss per share from continuing operations was CAD 0.08 compared to CAD 0.14 a year ago. Diluted loss per share from continuing operations was CAD 0.08 compared to CAD 0.14 a year ago. Basic loss per share was CAD 0.09 compared to CAD 0.15 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.