Toronto-based
Flowr Corporation (
TSX-V.FLWR) recently reported a $5.4 million net loss in its second quarter, compared to a profit of $11.2 million a year earlier.
Flowr stated in its MD&A filings that the losses came as the company reported higher impairment and finance costs in the three-month period. Flowr went on to say its net revenue rose about 6% to
$2.3 million in the quarter, and that it sold
kilo419 grams of dried cannabis – an improvement of 23% from last year.
Jefferies analyst Owen Bennett said in a report that the quarter shows Flowr is now on track to be
cash-flow-positive by the
second part of the year, as there is "clear demand from its premium product,” adding that its
production facility is not yet running at full capacity. New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks. For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.