Financial Data and Key Metrics - Q2 2023 revenue was $21.5 million, a 140% increase compared to Q2 2022 [15] - H1 2023 revenue was $40.8 million, a 210% year-over-year increase [15] - Q2 2023 gross profit was $4.0 million, a 19% increase compared to Q2 2022 [15] - H1 2023 gross profit was $9.3 million, a 68% year-over-year increase [15] - Q2 2023 net loss was $44.6 million, primarily due to impairment expenses of $34.9 million, loss from discontinued operations of $7.6 million, and non-cash expenses of $1.2 million [17] - H1 2023 net loss was $48.5 million, consisting of impairment expenses of $34.9 million, loss from discontinued operations of $8.3 million, and non-cash expenses of $2.7 million [17] Business Line Data and Key Metrics - Just Brands operates in all 50 US states, 21 countries, and over 20,000 distribution points globally, offering products like gummies, Delta 8, and HHC [10] - Vessel is a leading brand in consumer technology, including vape pens, batteries, and accessories, with a premium product base and high customer loyalty [11] - Phatebo is a German-based distributor of patented brand pharmaceuticals, reaching 28 countries, with potential to become a key player in cannabis therapeutics in Europe [11] Market Data and Key Metrics - The global financial markets downturn, particularly in the cannabis sector, continues to challenge the industry [12] - The company remains optimistic about the long-term prospects of the cannabis sector, emphasizing the need for consolidation, cost reduction, and efficient business models [12] Company Strategy and Industry Competition - The company divested its Colombian operations and implemented $6.1 million in cost savings, including significant reductions in corporate overhead [8] - The company is focusing on cash flow diversity and growth in core businesses, which are expected to remain cash flow positive [9] - The company plans to continue cost-cutting and resource optimization without sacrificing performance [14] - The company is seeking additional financing to improve liquidity, viewing the current market as a generational opportunity for investment in the sector [18] Management Commentary on Operating Environment and Future Outlook - The company believes favorable regulatory outcomes for adult-use cannabis in the US and Europe could deliver significant upside in the future [9] - The company is confident in its trajectory and committed to delivering value to shareholders [18] Other Important Information - Just Brands formed an exclusive worldwide partnership with Hulk Hogan to produce and sell branded products, expected to be accretive to Flora [3] - The company expects to form additional partnerships with entertainers and celebrities in the near future [3] Q&A Session - No questions were asked during the Q&A session [20]

No Cap Hemp Co. business combination On July 20, 2022, Just Brands LLC., a wholly owned subsidiary of the Company, acquired certain assets, assumed certain liabilities, retained certain employees and processes (together the "purchased assets") of No Cap Hemp Co. ("No Cap") for total purchase consideration of $0.9 million. No Cap is a manufacturer and distributor of high quality and affordable CBD products. No Cap is based in Florida in the United States and was formed in 2017. Just Brands LLC acquired No Ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended March 31, 2023 Commission file number 000-52776 3406 SW 26th Terrace, Suite C-1 Fort Lauderdale, Florida 33132 (Address of principal executive offices) (Zip Code) Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was require ...

Flora Growth Corp. (NASDAQ:FLGC) Q4 2022 Earnings Conference Call April 3, 2023 8:00 AM ET Company Participants Jessie Casner - Chief Marketing Officer Luis Merchan - Chairman & Chief Executive Officer Elshad Garayev - Chief Financial Officer Conference Call Participants Aaron Grey - AGP Jessie Casner [Abrupt Start] Before we begin, I'd like to note that the webcast is being recorded and will be published for viewing shortly after the end of the webcast. On the call with me today are Luis Merchan, Chief Exe ...

Ownership of our Common Shares may be considered unlawful in some jurisdictions and holders of our Common Shares may consequently be subject to liability in such jurisdictions. Cannabis-related financial transactions, including investment in the securities of cannabis companies and receipt of any associated benefits, such as dividends, are currently subject to anti-money laundering and a variety of other laws that vary by jurisdiction, many of which are unsettled and still developing. While the interpretati ...

Flora Growth Corp. (NASDAQ:FLGC) Q3 2022 Earnings Conference Call November 28, 2022 4:30 PM ET Company Participants Jessie Casner - Chief Marketing Officer Luis Merchan - President & CEO Elshad Garayev - CEO Jason Warnock - Chief Commercial Officer Conference Call Participants Jessie Casner Hello, everyone, and welcome to the Flora Growth Third Quarter 2022 Earnings Results Webcast. I'm Jessie Casner, Chief Marketing Officer at Florida Growth. Please note this webcast is recorded and will be published for v ...

EX-99.2 3 flora_ex992.htm UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS EXHIBIT 99.2 Flora Growth Corp. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three and nine months ended September 30, 2022 and 2021 (Unaudited) (Expressed in United States Dollars) Flora Growth Corp. Interim Condensed Consolidated Statements of Financial Position (Unaudited - Prepared by Management) (in thousands of United States dollars) | --- | --- | --- | --- | --- | --- | |---------------------------- ...

Flora Growth Corp. (NASDAQ:FLGC) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Jessie Casner - Chief Marketing Officer Luis Merchan - President, Chief Executive Officer and Chairman Jason Warnock - Chief Commercial Officer Elshad Garayev - Chief Financial Officer Annabelle Manalo-Morgan - Lead Scientific Advisor Holly Bell - Vice President, Regulatory Affairs Jessie Casner Thank you all for joining today, FloraÂ's First Half 2022 Call. We are going to get started here in j ...

EX-99.2 3 flora_ex992.htm UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS EXHIBIT 99.2 Flora Growth Corp. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the six months ended June 30, 2022 and 2021 (Unaudited) (Expressed in United States Dollars) Flora Growth Corp. Interim Condensed Consolidated Statements of Financial Position (Unaudited - Prepared by Management) (in thousands of United States dollars) | --- | --- | --- | --- | --- | |-------------------------------------------------- ...

Flora Growth Corp. (NASDAQ:FLGC) Q4 2021 Earnings Conference Call May 10, 2022 9:00 AM ET Company Participants James Williams - Vice President, Corporate Development & IR Luis Merchan - President & CEO Jason Warnock - Chief Commercial Officer Jessie Casner - Chief Marketing Officer Annabelle Morgan - Board of Directors Conference Call Participants James Williams Hello, everyone. Apologies for the slight delay here. Welcome to the Flora Growth 2021 Conference Call. This will be the first full-year earnings c ...