(This story has been updated to include results from the second quarter of fiscal 2018.)
Los Angeles-based MedMen reported revenue of $29.9 million and a net loss of $64.6 million for its fiscal second quarter ended Dec. 29, as the multistate cannabis company saw its sales grow and red ink recede versus the previous quarter.
The retailer reported a net loss of $11 million on sales of $3 million for the same period a year ago.
The latest revenue figure for the newly public company – it debuted on the Canadian Securities Exchange last May – is up 39% from $21.5 million in MedMen’s first fiscal quarter ended Sept. 30, 2018.
The company’s latest net loss, meanwhile, narrowed from $66.5 million in the first quarter.
MedMen trades on the CSE under the ticker symbol MMEN.
More details on the fiscal second quarter results are available here.