Cannabis retailer
Fire & Flower Holdings Corp. (
TSX:FAF) has reported better-than-expected Q1 2020 results amid signs of ‘progressive’ quarter.
Canadian cannabis retailer
Fire & Flower reported $23.1 million in revenue in its first quarter while booking a net loss of $12.7 million, the company reported Tuesday. Fire & Flower's loss comes amid a $4.3 million impairment charge related to a leased location whose ability to operate has been diminished, the company said.
In light of the loss, Fire & Flower reported the largest quarterly sales figure among major licensed cannabis players. The company's adjusted EBITDA came in at a $2.7 million loss but was ahead of analyst expectations of a $3.3-million loss.
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