1933 INDS INC - TGIFF STOCK NEWS

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) announced its Q2 2023 financial results for the period ending January 31, 2023. The company reported $3.6 million in revenue, a 13% increase from Q2 2022, and a total of $9.2 million for the first half of the fiscal year, up 52% year-over-year. Expenses significantly decreased by 92% to $0.2 million due to a tax refund. Despite a net loss of $0.4 million, the company achieved positive Adjusted EBITDA of $0.1 million for the second consecutive quarter. Cash reserves improved to $2.9 million from $0.8 million in the prior year. Ester Vigil was appointed as President, enhancing leadership.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) reported its Q1 2023 financial results, achieving record revenues of $5.64 million, a 129% increase year-over-year. The gross margin reached $2.0 million, while the company posted an adjusted EBITDA of $0.1 million. Despite a net loss of $1.2 million, management highlights a disciplined cost strategy and ongoing demand for AMA branded products. The results underscore the company's growth trajectory in the cannabis sector, despite facing pressure from competitive pricing.

1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) announced its financial results for Q4 and Fiscal 2022. Revenues rose to $12.54 million, up from $11.98 million in 2021. Expenses increased to $20.21 million, largely due to a one-time goodwill impairment charge. Net loss was $18.07 million, compared to $6.29 million the previous year. The company significantly improved its cannabis yield and stabilized operations, leading to decreased expenses of $1.9 million. With strong growth expected in 2023, 1933 Industries aims to enhance efficiency and profitability.