Welcome to our dedicated page for Vext Science news (Ticker: VEXTF), a resource for investors and traders seeking the latest updates and insights on Vext Science stock.
Vext Science, Inc. (OTCQX: VEXTF) generates frequent news as a U.S.-based cannabis operator with vertical operations in Arizona and Ohio. Company news releases highlight developments across its cultivation, manufacturing and retail dispensary activities, as well as updates on its Vapen™ branded products and Herbal Wellness Center dispensaries.
On this page, readers can follow Vext’s announcements about financial results, including quarterly earnings releases that discuss revenue, EBITDA, Adjusted EBITDA and Cash Flow Margin, along with explanations of these non-IFRS financial measures. The company also issues notices about upcoming earnings calls and webcasts, providing details for investors who want to listen to management’s commentary.
Vext’s news flow often covers operational milestones in Ohio, such as regulatory approvals from the Ohio Division of Cannabis Control, the opening of new Herbal Wellness Center dispensaries, and progress on additional dual-use dispensary licenses under the 10(B) program. Updates describe the status of its Tier 1 cultivation facility, manufacturing facility and multiple dispensary locations in cities including Jackson, Columbus, Athens, Jeffersonville, Portsmouth and Fairfield.
Other news items may include corporate and capital markets disclosures, such as early warning reports by significant securityholders, changes in auditors, and voting results from annual general meetings. Together, these updates provide a detailed view of how Vext is operating its vertically integrated cannabis platform in its core states of Arizona and Ohio. Investors and followers of the cannabis sector can use this news feed to review VEXTF-related announcements and company statements in one place.
Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) has secured dual-use Provisional Licenses from the Ohio Division of Cannabis Control for its cultivation and manufacturing facility, as well as its dispensaries in Jackson and Columbus. This marks a significant step towards obtaining Certificates of Operations, enabling Vext to enter Ohio's adult-use cannabis market.
Vext currently operates a Tier I cultivation facility, a manufacturing facility, and two dispensaries in Ohio. The company is set to expand its footprint with two additional dispensaries upon closing of the previously announced Ohio Expansion Transaction. CEO Eric Offenberger expressed optimism about the company's preparedness to leverage its position in the state for shareholder returns.
The company's Ohio footprint includes operational facilities in Jackson and Columbus, with plans for further expansion. An amendment to the Ohio Expansion Transaction has reduced the consideration from $9.4 million to $7.7 million.
Vext Science announced its Q1 2024 financial results, highlighting a revenue of $8.4 million, compared to $9.1 million in Q1 2023. The adjusted EBITDA stood at $1.9 million, a decrease from $2.9 million in Q1 2023. The EBITDA margin improved to 23.3% from 6.5% in Q4 2023. The company is preparing for the anticipated adult-use program in Ohio, leveraging its vertically-integrated operations. A $2 million standby credit facility has been secured to support operations and expansion in Ohio. CEO Eric Offenberger emphasized the potential growth in Ohio despite consumer challenges in Arizona. The company plans to enhance cash flow and shareholder returns with modest capital expenditures and strategic financial flexibility.
Vext Science (CSE: VEXT, OTCQX: VEXTF), a U.S.-based cannabis operator in Arizona and Ohio, announced it will release its Q1 2024 financial results on May 29, 2024, before market open.
The results will cover the quarter ended March 31, 2024.
A conference call and webcast will follow at 8:00 a.m. ET on the same day.
Dial-in numbers for the call are +1-647-484-8814 or 1-844-763-8274, with a replay available until June 12, 2024, at +1-604-674-8052 or 1-855-669-9658, using conference ID 10023534.
Webcast access is provided through https://www.gowebcasting.com/13356. For further details, contact investors@vextscience.com.
Vext Science, Inc. reported a revenue of $34.8 million for 2023 with Adjusted EBITDA of $5.5 million. The company is set to launch an adult-use program in Ohio for significant growth. Ohio expansion includes a cultivation facility, manufacturing facility, and four dispensaries. Despite market challenges, Vext performed well in Q4, positioning itself for growth in Ohio's $4 billion cannabis market. Recent acquisitions and debt conversions indicate strategic moves for Vext's expansion.
Vext Science, Inc. announces new date for Q4 and fiscal 2023 financial results release. The company will release its financial results for the period ended December 31, 2023, on May 10, 2024, and host a conference call and webcast on the same day at 1:00 p.m. ET.
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