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MedMen Shares Slightly Up On The Best Quarterly Net Loss Result Since It Went Public


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. ....

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