Stem Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 21, 2023 at 01:41 pm EDT
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Stem Holdings, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported sales was USD 3.83 million compared to USD 4.17 million a year ago. Net loss was USD 1.11 million compared to net income of USD 0.54 million a year ago.
For the nine months, sales was USD 11.78 million compared to USD 12.52 million a year ago. Net loss was USD 7.41 million compared to USD 7 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.02 a year ago. Basic loss per share was USD 0.03 compared to USD 0.03 a year ago. Diluted loss per share was USD 0.03 compared to USD 0.03 a year ago.
Stem Holdings, Inc. is a vertically integrated cannabis branded products and technology company. It is engaged in the cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. The Company purchases, leases, operates, and invests in properties for use in the production, distribution and sales of cannabis and cannabis-infused products licensed in the states of Oregon, Nevada, and California. It has ownership interests in over 23 state issued cannabis licenses including nine licenses for cannabis cultivation, three licenses for cannabis processing, two licenses for cannabis wholesale distribution, three licenses for hemp production and cannabis dispensary licenses. Its wholly owned subsidiaries include Stem Holdings Oregon, Inc., Stem Holdings IP, Inc., Opco, LLC, Stem Agri, Inc., Stem Holdings Oregon Acquisitions 1, Corp., Stem Holdings Oregon Acquisitions 2, Corp., and Stem Holdings Oregon Acquisitions 3, Corp.
STEM HOLDINGS, INC. 
