In This Story
Cannabist Company Holdings Inc Com (CBSTF-10.42%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, showing a decrease in revenue to $458,722,000 from $511,327,000 the previous year. This decrease is attributed to increased competition and price compression in certain markets.
Cost of sales related to inventory production decreased to $290,425,000 from $331,359,000. The gross profit for the year was $168,297,000, down from $179,968,000 in the previous year.
The company reported a net loss of $105,126,000 for the year, compared to a net loss of $174,287,000 in the previous year. The improvement is primarily due to a decrease in operating expenses and impairment charges.
Operating expenses were reduced to $190,569,000 from $285,208,000, reflecting lower impairment charges and a decrease in selling, general, and administrative expenses.
The filing also highlights the company's liquidity position, with cash and cash equivalents at $33.6 million as of December 31, 2024, and outlines recent financing transactions, including the issuance of convertible debt.
Cannabist Company Holdings Inc Com continues to focus on expanding its operations and improving its financial performance amidst a challenging regulatory and competitive landscape.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cannabist Company Holdings Inc Com annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.