The TDR Three Takeaways on Schwazze:
Schwazze reported revenue of $172.4 million in FY 2023, up from $159.4 in FY2024. With a 31% adjusted EBITDA margin in 2023 shows operational efficiency. Schwazze expanded its dispensary count by over 50%, enhancing its retail strategy, yet revenue only went up 8.1%
In 2023, Schwazze, formally known as Medicine Man Technologies (OTC: SHWZ, CBOE: SHWZ) showed encouraging financial and operational performance despite the challenges in the highly competitive cannabis markets of Colorado and New Mexico. The company reported a total revenue of $172.4 million, marking a substantial growth from the previous year. This increase is attributed to Schwazze’s strategic focus on retail expansion, improved operating cash flow, and enhanced customer experience.
Schwazze’s aggressive retail strategy, which resulted in a more than 50% increase in its store footprint to 63 dispensaries, played a role in this achievement. This expansion was critical in maintaining the companies competitive edge, especially in a market characterized by intense competition and pricing pressures. The company’s interim CEO, Forrest Hoffmaster, highlighted the importance of Schwazze’s investments in elevating customer experience as a driver for outpacing the market growth in the fourth quarter.
The financial progress of Schwazze is