1933 Industries Announces First Quarter 2025 Financial Report
Rhea-AI Summary
1933 Industries (OTC:TGIFF) reported its Q1 2025 financial results, showing mixed performance amid challenging market conditions in Nevada. The company generated revenue of $4.0 million, down from $5.2 million in Q1 2024, with the decline attributed to soft sales and falling flower prices across Nevada.
Key financial metrics include a gross profit of $1.3 million (vs $1.6 million in Q1 2024), improved gross margin of 33% (vs 31% in Q1 2024), and a net loss of $0.58 million (compared to $0.38 million loss in Q1 2024). Operating expenses decreased to $1.9 million from $2.0 million year-over-year.
The company's Alternative Medicine Association (AMA) brand achieved a notable #3 ranking among Nevada's most sold cannabis brands by volume, demonstrating resilience despite market price compression. Nevada's retail cannabis sales showed significant decline, falling 23% from $78 million in August to $59.8 million in September 2024.
Positive
- Improved gross margin to 33% from 31% YoY
- Achieved #3 ranking in Nevada cannabis brand sales by volume
- Reduced operating expenses to $1.9M from $2.0M YoY
Negative
- Revenue declined 23% YoY to $4.0M from $5.2M
- Gross profit decreased to $1.3M from $1.6M YoY
- Net loss increased to $0.58M from $0.38M YoY
- Market conditions deteriorating with Nevada sales dropping 23%
News Market Reaction
On the day this news was published, TGIFF declined 16.00%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / February 27, 2025 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis cultivator and producer, is pleased to announce its first quarter financial results ("Q1 2025") for the three months ended October 31, 2024 and 2023. All amounts expressed are in Canadian dollars.
The Company owns
Highlights
Revenue of
$4.0 million Gross profit of
$1.3 million Gross margin of
33% Net loss of
$0.6 million 3rd Place ranking as one of the most sold cannabis brands in Nevada
Q1 2025 and Q1 2024 Consolidated Operating Financials
Revenue
The Company generated revenue of
Gross Profit
The Company generated gross profit of
Gross Margin
Gross margin calculated as gross profit divided by revenue was
Expenses
During the reporting period, expenses decreased to
Net Loss
Net loss for the period was
Management Commentary
Slower retail sales across Nevada impacted the Company's total revenue and gross profit as compared to Q1 2024. Despite the retail slowdown in the cannabis market, the Company made gains in gross margin as it continues to run a more efficient operation and improves its cannabis production. Against price compression in the state, the AMA brand has demonstrated resilience in a competitive landscape and ranked #3 as one of the most sold brand in Nevada by volume2.
Financial statements are prepared in accordance with International Financial Reporting Standards. Detailed information regarding the Company's financial results as well as management's discussion and analysis can be found at https://sedar.com/ and https://1933industries.com/investors/financial-information
1 https://tax.nv.gov/wp-content/uploads/2024/12/NV-Cannabis-Revenue-FY25.pdf
2 https://www.headset.io/brands/alternative-medicine-association-ama
About 1933 Industries Inc.
1933 Industries is a Nevada-based licensed producer, focused on the cultivation and extraction of a large portfolio of cannabis consumer products in a variety of formats under its flagship brands, Alternative Medicine Association (AMA) and Level X. Its product offerings are cultivated at the Company's 68,000 sq. ft. indoor facility and marketed directly to retail dispensaries. AMA branded flower, infused pre-rolls, and in-house boutique concentrates consistently rank as the top products sold in Nevada. For more information, please visit www.1933industries.com
For further information please contact:
Alexia Helgason, VP, Investor Relations
604-728-4407
alexia@1933industries.com
Brian Farrell, Chairman and CEO
brian@1933industries.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: 1933 Industries Inc.
View the original press release on ACCESS Newswire
FAQ
What was TGIFF's revenue and profit for Q1 2025?
How did TGIFF's Q1 2025 performance compare to Q1 2024?
What caused TGIFF's revenue decline in Q1 2025?
What is TGIFF's market position in Nevada?
