Medicine Man Technologies, Inc. (PNK:SHWZ) Q3 2023 Earnings Call Transcript November 14, 2023
Medicine Man Technologies, Inc. beats earnings expectations. Reported EPS is $-0.03, expectations were $-0.1.
Operator: My name is Lester, and I will be your conference operator today. At this time, I would like to welcome everyone to Schwazze Third Quarter 2023 Conference Call. All lines have been placed on mute to prevent any background noise. Following their prepared remarks, management will take questions submitted via the web link found in Schwazze’s Investor Relations website and in the earnings press release. I would now like to hand over the conference to company’s External Head of Investor Relations, Sean Mansouri of Elevate IR. Sir, please go ahead.
Sean Mansouri: Thank you. Good afternoon, and welcome to Schwazze’s third quarter 2023 earnings conference call. Joining me on the call are Nirup Krishnamurthy, Schwazze’s Chief Executive Officer; Forrest Hoffmaster, Chief Financial Officer; and Justin Dye, Chairman of the Board. The company will begin with prepared remarks and then we will open the call for Q&A. I’d like to remind you that management’s prepared remarks and answers to your submitted questions may contain forward-looking statements, which are subject to risks and uncertainties. Examples of forward-looking statements include, among others, statements regarding federal and state legislation and regulation, Schwazze’s future results of operations and financial position and Schwazze’s business strategy and plans and objectives for future operations.
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Such forward-looking statements may be preceded by the words plan, will, may, continue, anticipate, become, build, develop, expect, believe, poised, project, approximate, could, potential or similar expressions as they relate to Schwazze. Investors are cautioned that all forward-looking statements involve risks and uncertainties that may cause actual events, results, performance or achievements to differ from those anticipated by Schwazze at this time. Additional information concerning factors that could cause events, results, performance or achievements to differ materially is available in Schwazze’s earnings release made available before this call and available on Schwazze’s Investor Relations website and in Schwazze’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 29, 2023.
In addition, other information is more fully described in Schwazze’s public filings with the U.S. Securities and Exchange Commission, which can be reviewed at sec.gov or on www.sedar.com or on the company’s Investor Relations website. Also, Schwazze may discuss non-GAAP financial measures during today’s call. A reconciliation of the differences between the non-GAAP financial measures discussed during the call and with the most directly comparable GAAP measure can be found in Schwazze’s earnings press release made available before this call and available on Schwazze’s Investor Relations website. I’d now like to turn the call over to the company’s CEO, Nirup Krishnamurthy, for opening remarks. Nirup?
Nirup Krishnamurthy: Thank you, Sean. Good afternoon, everyone, and thank you for joining us to discuss our financial and operating results for the third quarter of 2023. I’d like to start by quickly touching on the broader macro environment. Inflationary and pricing pressure has continued to impact consumer wallets across most industries in the third quarter. Our industry is not immune to these pressures either. Nevertheless, we continue to focus on our sales, our customers and cash flow generations in our operations. We have always prided ourselves in our ability to run a lean operation, while being good stewards of capital, which has materialized in our strong adjusted EBITDA margins and consistent cash flow generation, even in challenging market conditions.
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