## Cannabis Industry Earnings Season Heats Up: Ispire, Gold Flora, and Vext Science to Report Q3 Results
The cannabis industry is about to enter another earnings season, with several key players poised to release their financial results for the third quarter of 2024. Investors will be closely watching these reports to gauge the sector’s performance and get a glimpse of its future growth prospects.
Ispire Technology (ISPR)
will be kicking off the earnings season on Tuesday, November 12th, when it hosts its earnings conference call at 8:00 am Eastern Time to discuss its financial results for the fiscal first quarter ended September 30th, 2024. The company has already revealed some promising highlights. Ispire, co-CEO Michael Wang, described 2024 as “a foundational year” for the company. They reported record revenue and significant margin expansion, while also focusing on strategic growth within the global nicotine market and collaborating with high-quality multi-state operator (MSO) customers in the cannabis vaping hardware space. Revenue surged by 31.4% year-over-year to $151.9 million, a substantial increase from the $115.6 million reported in the 2023 fiscal year. Earlier this year, Wang shared his optimistic outlook on the future of cannabis vaping during an interview on Benzinga’s Cannabis Insider podcast. He believes that “vaping will become the number one way for using cannabis within the next 2 or 3 years.”Gold Flora Corporation (GRAM)
, a vertically integrated California cannabis company, will report its financial results for the third quarter ended September 30th, 2024, on Thursday, November 14th. The company will hold a conference call to discuss the results at 6:00 pm Eastern Time on the same day. The second quarter earnings report released in August showed revenue of $31.64 million, representing a slight decrease of 2% from the previous quarter. However, gross profit experienced a significant drop of 28% in the second quarter, totaling $7.25 million, resulting in a gross margin of 23%. Notably, in October, Gold Flora’s common shares were approved to be quoted on the OTC Market’s Group Inc.’s OTCQB Venture Market in the U.S. under the ticker symbol “GRAM.”Vext Science (VEXT)
, a U.S.-based cannabis operator with vertical operations in Arizona and Ohio, will release its financial results for the third quarter ending September 30th, 2024, before the market opens on November 21st. The earnings conference call and webcast will take place on the same day at 08:00 am Eastern Time. Earlier this year, Pablo Zuanic, senior analyst at Zuanic & Associates, initiated coverage of Vext Science with an Overweight rating, highlighting the company’s significant growth potential. As highlighted by Benzinga’s Nicolás José Rodriguez, Zuanic calculated that Vext has the most EBITDA torque among the twelve public multi-state operators (MSOs) in Ohio, projecting Vext’s EBITDA could grow six-fold by calendar 2026, taking calendar 2023 as the base year. It’s worth noting that recreational marijuana sales launched across Ohio on Tuesday, August 6th.These earnings reports will provide investors with crucial insights into the financial performance and future growth prospects of these key players in the rapidly evolving cannabis industry. Stay tuned for updates and analysis as the earnings season unfolds.