Body And Mind Q2 FY23 Revenue Declines 3.75% YoY, What About Adjusted EBITDA?

Body and Mind Inc. BMMJ BAMM revenue for Q2 FY 2023 was $7.7 million, a 3.75% decrease compared to $8 million in Q2 FY 2022.

Q2 FY 2023 Financial Highlights:

  • Gross profit of $2.26 million for Q2 FY 2023 compared to a gross profit of $2.63 million for Q2 FY 2022.

  • Q2 FY 2023 net operating loss was $1.8 million compared to Q2 FY 2022 net operating loss of $970,773.

  • Q2 FY 2023 net loss was $2.7 million (or basic and diluted loss per share of $0.02) compared with Q2 FY 2022 net loss of $2.7 million (or basic and diluted loss per share of $0.02).

  • Adjusted EBITDA loss of $1.3 million for Q2 FY 2023 vs. adjusted EBITDA loss of $400,000 for Q2 FY 2022.

  • Cash at the end of the period was $3.16 million.

"Our most recent quarter reflects improvement in wholesale pricing in Nevada and wholesale growth in Ohio as we focus on development of the new Illinois and New Jersey dispensaries," stated Michael Mills, CEO of Body and Mind. "Construction at our new Illinois dispensary in Markham is more than 90% complete and we are on track to open in the next month as we leverage dispensary opening and operational experience from multiple markets. In Arkansas we expanded Body and Mind branded product offerings with new Body and Mind branded vape cartridges joining our wide existing product offerings including craft flower and concentrates."

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