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Medicine Man Technologies, Inc., operating as Schwazze (OTC:SHWZ) announced its preliminary financial results Thursday for the third quarter ended Sept. 30, 2024. The Colorado-based cannabis company reported revenue of approximately $42 million, which compares to revenue of $46.75 million in the same period last year.
"We continued to generate momentum from our retail growth and optimization initiatives in Q3, reflected by our ability to outpace two highly competitive markets while generating sequential improvements in profitability and positive cash flow from operations," stated Forrest Hoffmaster, Interim CEO of Schwazze. "Our efforts to sharpen our pricing and promotional strategy, elevate the in-store experience, and improve product quality, assortment and in-stock positions are yielding positive results. I'm proud of our team's hard work and dedication to drive these improvements in the overall customer experience, which has led to increased store traffic in both Colorado and New Mexico. Over the past year, our focused efforts to optimize our operations have built a solid foundation, setting the stage for sustained growth and enhanced levels ...
