Welcome to our dedicated page for Blum Holdings news (Ticker: UNRV), a resource for investors and traders seeking the latest updates and insights on Blum Holdings stock.
Blum Holdings, Inc. (UNRV) operates as a diversified investment leader with strategic interests across multiple industries. This news hub provides investors and stakeholders with timely updates on corporate developments, financial milestones, and market strategies.
Access verified information about UNRV's portfolio growth, partnership announcements, and operational achievements. Our curated news collection serves as your primary source for tracking the company's progress in emerging markets and innovation-driven initiatives.
Key updates include earnings reports, leadership changes, strategic collaborations, and expansion efforts. All content is sourced from official company communications to ensure reliability and compliance with financial disclosure standards.
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Unrivaled Brands, Inc. is set to open its new dispensary, People’s DTLA, in downtown Los Angeles on December 18, 2021. This marks the company's fifth dispensary in California and follows the success of its People’s OC location. The new site aims to enhance the company's retail presence, with expectations of increased revenue and improved margins. Vice President Cassandra Ochoa highlighted the early opening as a team success. The grand opening festivities will include local art and food vendors, inviting community participation.
Unrivaled Brands, Inc. (OTCQX:UNRV) announced the successful first harvest from its new cultivation facility in Oakland, California, launched in September. This state-of-the-art facility is expected to produce 3,500 pounds of high-quality cannabis annually, enhancing the Company's Korova brand. The expansion triples Unrivaled's cultivation footprint, which is anticipated to lower costs and improve profit margins. COO Uri Kenig emphasized that this development supports the growing demand across the Company’s dispensary and distribution networks.
Unrivaled Brands has completed the acquisition of People's First Choice and entered a definitive agreement for additional dispensaries in Los Angeles, Riverside, and Costa Mesa. This acquisition significantly boosts Unrivaled's retail footprint, adding a high-performing dispensary in Santa Ana, which generated nearly $30 million in 2020 revenue. The new locations are expected to enhance the company's market position and profitability through increased margins and brand integration.
Unrivaled Brands, Inc. (OTCQX:UNRV) announced the sale of its 50% interest in the Nevada joint venture, NuLeaf Sparks Cultivation LLC and NuLeaf Reno Production LLC, for $6.5 million. This cash flow is contingent on regulatory approval and customary closing conditions. The sale aligns with the company’s strategy to focus on California and Oregon, with the revenue change already integrated into their $130 million guidance for the upcoming year. Unrivaled aims to enhance operational efficiencies and solidify its position as a leading cannabis operator on the West Coast.
Unrivaled Brands, Inc. (OTCQX: UNRV) reported a significant year-over-year revenue increase of 668%, with Q3 2021 revenues reaching $23.4 million, up from $3.1 million in Q3 2020. This strong performance followed the merger with UMBRLA. Gross profit improved to $2.3 million, despite a $4 million inventory reserve. SG&A expenses rose to $13.5 million but represented only 58% of revenue, down from 183% in the prior year. The company projects 2022 revenue exceeding $130 million. A net loss from operations decreased to $11.8 million, while non-GAAP losses significantly improved to $0.9 million.
Unrivaled Brands, Inc. (OTCQX:UNRV), a leading cannabis company, will release its financial results for Q3 2021 on November 15, 2021. The company operates in California, Oregon, and Nevada, focusing on cultivation, distribution, and retail operations. A conference call will be held at 4:30 PM ET on the same day to discuss results and business highlights. Interested parties can join by phone or through a live webcast on Unrivaled's Investor Relations webpage.
Unrivaled Brands, Inc. (OTCQX:UNRV) has entered an exclusive distribution agreement with Life Cannabis Co., a sustainable cannabis brand. This partnership enables Unrivaled to handle sales and distribution of Life's eco-friendly products, which are grown using organic methods and designed to minimize environmental impact. Life Cannabis Co. pledges to donate 5% of its profits to environmental charities. The alliance aligns with Unrivaled's strategy to expand its product offerings, thereby enhancing its position in the competitive cannabis market.
Unrivaled Brands has launched its SilverStreak distribution hub in San Leandro, California, following the rebranding of its Blüm dispensary. The move enhances the company's delivery operations, leveraging SilverStreak Solutions' pre-existing customer base of over 42,000 users. CEO Frank Knuettel II announced the hub's launch occurred within 30 days post-acquisition, marking significant service expansion in California's cannabis market. Unrivaled Brands operates in multiple states, focusing on cannabis cultivation, distribution, and retail.
Unrivaled Brands (OTCQX: UNRV) announced an exclusive distribution agreement with Humboldt Farms, enhancing its product portfolio. Unrivaled will manage sales and distribution of Humboldt Farms' premium cannabis products across California. Humboldt Farms is recognized for its top-quality sun-grown cannabis sourced from Humboldt County. With this partnership, Unrivaled aims to expand its market presence in dispensaries, capitalizing on Humboldt's reputation as a leading brand in the sector.
Unrivaled Brands, Inc. (OTCQX:UNRV) updates shareholders via CEO Frank Knuettel II's letter, marking progress in operational stability, asset monetization, and business expansion. The company finalized the buyout of its founders, retired preferred stock, and improved corporate governance. Key achievements include a $40 million profit from Hydrofarm stock and further sales expected from Las Vegas dispensaries. Recent mergers and acquisitions, including UMBRLA and SilverStreak, bolster revenue, while new dispensaries are set to enhance market presence. Unrivaled aims to be a leading West Coast cannabis operator.
