Multistate marijuana operator Body and Mind (CSE: BAMM) (OTCQB: BMMJ) reported a net loss of $2.5 million for its third fiscal quarter of 2024, which ended April 30.

That’s a more than tenfold increase from its $200,000 loss in the second quarter, but down from the $3.6 million the Nevada-based company lost in the same period a year ago. Body and Mind flirted with profitability in its first fiscal quarter, reporting $200,000 in net income.

Body and Mind did not appear to issue a press release with commentary from company leadership for the most recent quarter, instead choosing to let its filing with securities regulators speak for itself.

For the quarter, Body and Mind posted $4.4 million in total revenue, up year-over-year from $4.1 million. That brings the fiscal year total revenue to $13.3 million, also up year-over-year from $13.2 million.

But operating costs totaled $7.7 million for the quarter, ultimately forcing Body and Mind into loss territory.

Body and Mind has a cannabis industry footprint in its home state of Nevada, along with Arkansas, California, Illinois, Michigan, New Jersey, Ohio, and Texas.

At the end of April, Body and Mind had $16.1 million in total assets, including $291,453 in cash, against $28.1 million in total liabilities, with a $69.5 million accumulated deficit.

The Daily Hit is a recap of the top financial news stories for Thursday, June 20, 2024.

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