Medicine Man Technologies Inc Down 14.77% To $0.75 After Earnings Miss

Medicine Man Technologies Inc (SHWZ) reported less than expected earnings this afternoon for Q4 2023.

Medicine Man Technologies Inc's earnings came in at an EPS loss of $0.38 per share, 192% lower than estimates for an EPS loss of $0.13 per share. The firm's loss per share expanded by 23% since reporting a loss of $0.31 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $45.5 million. The Healthcare company missed on those expectations for its fourth quarter with revenue of $43.3 million, a negative revenue surprise of $2.1 million (5%). The firm managed 8% growth year-over-year due to Medicine Man Technologies Inc reporting quarterly revenue of $40.1 million in its year-ago quarter. Medicine Man Technologies Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 14.77% to $0.75 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Medicine Man Technologies Inc has performed a little below average during the past few months. Before the report, Medicine Man Technologies Inc received a Long-Term Technical Rank by InvestorsObserver of 36, putting it in the bottom half of stocks. The firm was recently trading at a 52-week high of $1.55 on February 21, 2024 and set a 52-week low on December 11, 2023 at $0.48.

Medicine Man Technologies Inc is engaged in providing general consulting services in the cannabis industry. The company also provide seminar which includes giving guidance and tips on industry opportunities, medical and recreational market trends, cultivation methodologies and technology, extraction technology, dispensary operation, security requirements. The company's operating segment includes Products; Licensing and Consulting; and Corporate, Infrastructure and Other. It generates maximum revenue from the Retail segment. The company is now operating under its new trade name, Schwazze.