4Front Ventures Reports Third Quarter 2023 Financial Results
PHOENIX – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF), a vertically integrated, multi-state cannabis operator and retailer, today announced its financial results for the third quarter ended September 30, 2023 (“Q3 2023”). All financial information is presented in U.S. dollars unless otherwise indicated. Q3 2023 Highlights Systemwide Pro Forma Revenue from continuing operations of $28.0 million GAAP revenue from continuing operations of $23.0 million Adjusted EBITDA of $3.5 million Wholesale revenue in Illinois grew by 40% sequentially and 178% year-over-year Positive operating cash flow across footprint of Illinois, Massachusetts, and Washington *Systemwide Pro Forma Revenue and Adjusted EBITDA are non-GAAP measures. See “Note Regarding Non-GAAP Measures, Reconciliation, and Discussion.” Management Commentary “The third quarter marked the beginning of a transitional period for our business, which we firmly believe will positively impact our future performance and t...