Unrivaled Brands, Inc. has released unaudited financial results for its fiscal year and quarter ended December 31, 2023. The company reported revenue of $33 million from continuing operations for fiscal year 2023. In 2023, the company underwent a restructuring and strategic reorganization, culminating in the formation of a new holding company, Blum Holdings, Inc. The process was completed in early January, along with a reverse stock split of its common stock. The company reported that quarter-over-quarter retail revenue remained consistent with the previous quarter, decreasing slightly from $8.4 million to $8 million. The gross profit margin for the quarter was 53%. Total transactions in 2023 increased by 5% compared to the previous year. The CEO of Blum Holdings, Sabas Carrillo, stated that the company is focused on strategic growth initiatives, retail opportunities, margin growth through in-house brands, debt reduction, and operational efficiency in 2024.
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