Lowell Farms, Inc. (TSE:LOWL) has released an update.
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Lowell Farms Inc. reports a challenging fiscal year 2023, with a net revenue drop of 35% and a net loss increase from $24.6 million to $37.3 million. Despite a 21% revenue increase in Q4 compared to Q3 of 2023, the company faced a gross margin loss and an operating loss slightly higher than the previous year. Looking ahead, the CEO expresses optimism for 2024, following strategic repositioning and the termination of a costly lease agreement.
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