For the quarter, the Company's German reportable segment achieved revenues of
For the year-to-date period, the Company's
- Revenues of
$13.5 million , an increase of$13.1 million from the second quarter of 2021. - Gross profit of
$1.0 million , an increase of$0.8 million from the second quarter of 2021. - Net loss of
$1.1 million compared to$1.0 in the second quarter of 2021. - The Company's German reportable segment achieved net income of
$0.1 million .
- Revenues of
$30.1 million , an increase of$29.4 million from the comparative period of 2021. - Gross profit of
$2.1 million , an increase of$1.9 million from the comparative period of 2021. - Net loss of
$18.1 million . Excluding one-time listing expenses of$15.6 million , share-based compensation of$0.8 million and impairment expense of$0.3 million , net loss was$1.4 million . - The Company's German reportable segment achieved net income of
$0.4 million .
Revenues
Revenues increased 3,275% from
Gross Profit
Gross profit for the second quarter of 2022 was
Net Loss
Net loss for the second quarter of 2022 was
Liquidity
As at
A conference call hosted by senior management will be held on
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Franchise Global, through its subsidiaries, is a multi-national operator in the medical cannabis and pharmaceutical industries, with principal operations in
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This news release contains "forward-looking information" within the meaning of applicable securities laws, including without limitation statements regarding the business of Franchise Global and its prospects. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on management's current expectations, estimates, beliefs and/or opinions and is based on information currently available to them (including information obtained from third party industry analysts and other third-party sources) and on assumptions they believe not to be unreasonable in light of all of the circumstances.
By its nature, forward-looking information is subject to both known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Readers are cautioned to not place undue reliance on forward-looking information. Please refer to the filing statement of the Company available on the Company's SEDAR profile at www.sedar.com for more details on the risks and uncertainties faced by Franchise Global. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement, and the Company undertakes no obligation, and does not intend, to update any forward-looking information contained in this news release, whether as a result of new information, future developments, or otherwise, except as otherwise required by applicable law.
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