Financial Highlights The cannabis retailer further disclosed total net revenue from its operations in California, Arizona, Nevada, Illinois, New York and Florida of $37.8 million, up 8.2% from the previous quarter. Its gross margin rate was 42% in the quarter as compared to 53% in the second quarter. The California-headquartered company also posted a net loss of $9.8 million, which took into account $32.2 million in tax provision benefit, versus a net loss of $68.9 million in the second quarter that counted for $24 million of tax provision expense. According to MedMen, this is the company’s best net loss results since it went public. Its retail adjusted EBITDA was $8.5 million, compared to $6.0 million in the same quarter of fiscal 2020, for a 22.5% margin.