CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Q3 2022 Financial Results
November 28, 2022 at 11:13 AM EST
Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, released its financial and operating results for the third quarter and nine months ended Sept. 30, 2022. Among the highlights, the company reported 414% year-over-year and 510% year-over-year increases in revenue for the three-month period and nine-month period ended Sept. 30, 2022. In addition, Flora achieved a 703% year-over-year increase in gross profit for the three-month period ended Sept. 30, 2022. The company will discuss these results in its earnings call at 4:30 p.m. ET today, as detailed in the press release. “The third quarter of 2022 was another exciting quarter for Flora as we continued to lay the foundation of our business for the long-term,” said Luis Merchan, chairman and CEO of Flora Growth. “During the quarter, we exported products to several new markets, including distribution of our Colombian grown high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate to the United States. Our global distribution network, coupled with our high-quality Colombian flower and derivatives, leave Flora well positioned to capitalize on the evolving global cannabis landscape.”
To view the full press release, visit https://cnw.fm/jVbA6
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands, designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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