NetworkNewsBreaks – Zoned Properties Inc. (ZDPY)
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Posted On: 05/14/2024 4:39:04 PM
NetworkNewsBreaks – Zoned Properties Inc. (ZDPY) Releases Q1 2024 Financial Results Showing 22% Revenue Growth
Zoned Properties (OTCQB: ZDPY), a technology-driven property investment company for emerging and highly regulated industries, including legalized cannabis, released its financial results for Q1 2024, the period ended March 31; the company also noted recent business highlights. According to the report, financial highlights include revenues totaling $837,052 for the quarter ended March 31, 2024, compared to $688,024 million revenues for the same quarter 2023, representing an increase of 22%; net income of $96,473, or $0.01 per fully diluted share, as compared to a net loss of $309,648, or ($0.03) per fully diluted share, for the same quarter in 2023, representing a 131% increase; income from operations totaled $128,909 for the quarter; cash provided by operating activities reached $207,218; operating expenses reaching $708,143; and reported cash on hand of $1.52 million as of March 31, 2024. Business highlights for the quarter include Zoned Properties board of directors approving a stock repurchase program; the acquisition of a prime dispensary location in Chicago, marking an entry into one of the largest urban markets for legalized cannabis; an agreement to acquire property leased to Sunday Goods after receiving cannabis approvals for a new retail dispensary in Arizona; and listing cultivation property in Chino Valley, Arizona, for sale at a purchase price of $16 million. “Our team continues to execute despite a difficult operating climate in the cannabis industry, achieving very impressive financial and operational results,” said Zoned Properties CEO Bryan McLaren in the press release. The transition to a direct-to-consumer property investment model was demonstrated by our first-quarter results, which saw a revenue increase of 22%, positive net income and significant operating cash flow growth, evidencing what we believe is Zoned Properties’ firm trajectory of value generation and sustainable growth.”
NOTE TO INVESTORS: The latest news and updates relating to ZDPY are available in the company’s newsroom at https://nnw.fm/ZDPY
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Zoned Properties (OTCQB: ZDPY), a technology-driven property investment company for emerging and highly regulated industries, including legalized cannabis, released its financial results for Q1 2024, the period ended March 31; the company also noted recent business highlights. According to the report, financial highlights include revenues totaling $837,052 for the quarter ended March 31, 2024, compared to $688,024 million revenues for the same quarter 2023, representing an increase of 22%; net income of $96,473, or $0.01 per fully diluted share, as compared to a net loss of $309,648, or ($0.03) per fully diluted share, for the same quarter in 2023, representing a 131% increase; income from operations totaled $128,909 for the quarter; cash provided by operating activities reached $207,218; operating expenses reaching $708,143; and reported cash on hand of $1.52 million as of March 31, 2024. Business highlights for the quarter include Zoned Properties board of directors approving a stock repurchase program; the acquisition of a prime dispensary location in Chicago, marking an entry into one of the largest urban markets for legalized cannabis; an agreement to acquire property leased to Sunday Goods after receiving cannabis approvals for a new retail dispensary in Arizona; and listing cultivation property in Chino Valley, Arizona, for sale at a purchase price of $16 million. “Our team continues to execute despite a difficult operating climate in the cannabis industry, achieving very impressive financial and operational results,” said Zoned Properties CEO Bryan McLaren in the press release. The transition to a direct-to-consumer property investment model was demonstrated by our first-quarter results, which saw a revenue increase of 22%, positive net income and significant operating cash flow growth, evidencing what we believe is Zoned Properties’ firm trajectory of value generation and sustainable growth.”
NOTE TO INVESTORS: The latest news and updates relating to ZDPY are available in the company’s newsroom at https://nnw.fm/ZDPY
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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