Vext Science, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 28, 2023 at 07:43 am EST
Share
Vext Science, 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 8.1 million compared to USD 7.67 million a year ago. Net loss was USD 1.84 million compared to net income of USD 0.423532 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 26.4 million compared to USD 27.23 million a year ago. Net loss was USD 1.23 million compared to net income of USD 4.63 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.03 a year ago.
Vext Science, Inc. is a cannabis operator. The Companyâs expertise spans from cultivation through to retail operations in markets of Arizona and Ohio. It manufactures THC cartridges, concentrates, edibles and accessories under the Vapen brand, and hemp-based products under the Pure Touch Botanicals brand as well as the Vapen CBD and Herbal Wellness brands. It has THC concentrates, edibles, and distillate cartridge brands sold in various states dispensaries. It owns and operates cultivation facilities, fully built-out manufacturing facilities as well as dispensaries in both Arizona and Ohio. Additionally, it provides management, advisory, cultivation, and dispensary services to entities in the cannabis field through joint operations agreements. It also sells CBD products and branded merchandise. Vapen Brands product is the wholesale product and sold in its dispensaries. Vapen Brand is an edible and concentrate brand. The Company also owns cannabis dispensary in Columbus, Ohio.