Stem Holdings, Inc. Reports Earnings Results for the Third Quarter Ended June 30, 2020
August 17, 2020 at 11:42 am
Share
Stem Holdings, Inc. announced earnings results for the third quarter ended June 30, 2020. For the third quarter, the company announced total revenue was USD 5.198 million compared to USD 621,000 a year ago. Operating loss was USD 779,000 compared to USD 3.118 million a year ago. Net loss was USD 826,000 compared to USD 3.693 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.1 a year ago. For the nine months, total revenue was USD 8.817 million compared to USD 1.314 million a year ago. Operating loss was USD 7.290 million compared to USD 8.023 million a year ago. Net loss was USD 8.567 million compared to USD 10.379 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.48 a year ago.
Stem Holdings, Inc. is a vertically integrated cannabis branded products and technology company. It is engaged in the cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. The Company purchases, leases, operates, and invests in properties for use in the production, distribution and sales of cannabis and cannabis-infused products licensed in the states of Oregon, Nevada, and California. It has ownership interests in over 23 state issued cannabis licenses including nine licenses for cannabis cultivation, three licenses for cannabis processing, two licenses for cannabis wholesale distribution, three licenses for hemp production and cannabis dispensary licenses. Its wholly owned subsidiaries include Stem Holdings Oregon, Inc., Stem Holdings IP, Inc., Opco, LLC, Stem Agri, Inc., Stem Holdings Oregon Acquisitions 1, Corp., Stem Holdings Oregon Acquisitions 2, Corp., and Stem Holdings Oregon Acquisitions 3, Corp.
STEM HOLDINGS, INC. 
