Bespoke Extracts, Inc. Announces Financial Results and Strategic Rebranding for the First Quarter Ended March 31, 2025

Core Insights - Bespoke Extracts, Inc. has successfully rebranded as The Joint Company (TJC) and launched new products, Doobskis and Dutch Blunts, which are gaining traction in Colorado's cannabis market [3][5] - Despite an 8.8% contraction in Colorado's regulated cannabis market, the company achieved year-over-year revenue growth [5] - The company is focused on expanding its market share and optimizing operations for sustainable growth [8] Financial Highlights for Q1 2025 - Revenue increased to $263,159, up 1.0% from $260,428 in Q1 2024, driven by strong sales of branded pre-rolled joints [7] - Gross profit rose to $110,779 from $102,581 in Q1 2024, supported by improved production efficiencies [7] - Operating expenses decreased to $356,117 from $405,384 in Q1 2024, reflecting lower stock-based compensation and reduced salaries [7] - Net loss decreased to $260,521 from $314,118 in Q1 2024 [7] Operational Highlights - Daily pre-roll production increased by 32% compared to Q1 2024, enhancing TJC's competitive processing capabilities [8] - The company achieved cost efficiencies in raw materials, packaging, and labor, boosting gross margins despite increased marketing costs [8] - Management is exploring expansion into other state-regulated cannabis markets, leveraging successful operations in Colorado [8] Fiscal Q2 2025 Outlook - Projected revenue for Q2 2025 is expected to exceed $385,000, compared to $278,163 in Q2 2024, driven by strong demand for new product lines [11] - Continued improvements in manufacturing processes are anticipated to support higher production volumes and consistent product quality [11] - Enhanced production efficiencies and cost management are projected to drive higher gross margins [11]