Vibe's 2022 Q2 Financials - Still Disappointing InvestorsI am not impressed with Vibe's 2022 Q2 Financials. It will be interesting to see how the market responds since the stock price can so easily be manipulated with the low daily trading volume.
- Revenue only increased by U$63K over last quarter (2022 Q1) even though the new Ukiah dispensary was open for the entire Q2. Revenues across the other five (5) reporting dispensaries (excluding Salinas and Ukiah) must be down significantly.
- Revenue for quarter of U$5.73M was considerably lower than 2021 Q2 revenue of U$7.79M
- Net loss of U$654K compared to net loss of U$100K for same quarter in 2021.
- Adjusted EBITDA was U$428K compared to adjusted EBITDA of U$896K for same period in 2021.
- Competition or large California black market must be affecting Vibe revenues.
I will not comment on operational highlights as it is easy for management to paint a positive picture moving forward, as they always do. Only future 2022 Q3 financials will tell the true story of "operational improvements".
I don't forsee any significant upward positive momentum in Vibe's stock price based on these 2022 Q2 financial results.
JMHO