Veritas Farms, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 15, 2023 at 07:01 am EST
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Veritas Farms, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 0.235941 million compared to USD 0.100205 million a year ago. Net loss was USD 1.13 million compared to USD 0.979232 million a year ago. Basic loss per share from continuing operations was USD 0.01. Diluted loss per share from continuing operations was USD 0.01.
For the nine months, sales was USD 0.615593 million compared to USD 0.795044 million a year ago. Net loss was USD 3.48 million compared to USD 2.87 million a year ago. Basic loss per share from continuing operations was USD 0.06. Diluted loss per share from continuing operations was USD 0.06.
Veritas Farms, Inc. (Veritas Farms) is an agribusiness that is focused on growing, producing, marketing, and distributing quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring phytocannabinoids (collectively, CBD). Veritas Farms owns and operates an approximately 140 acres farm in Pueblo, Colorado, capable of producing over 200,000 proprietary full spectrum hemp plants, which can potentially yield a minimum annual harvest of 250,000 to 300,000 pounds of outdoor-grown industrial hemp. Veritas Farm's products include capsules, gummies, tinctures, lotions, salves, creams, balm sticks, lip balms, and pet chews. It also operates approximately 15,000 square feet of climate-controlled greenhouses to produce a consistent supply of year-round indoor-cultivated hemp. In addition, there is a 10,000 square-foot onsite facility used for processing raw hemp, oil extraction, formulation laboratories, and quality/purity testing.
VERITAS FARMS, INC. 
