CLS Holdings USA, Inc. Reports Q3 Net Loss of $461.7 Million

Las Vegas-based CLS Holdings USA, Inc. [CLSHD] (CLS), a leading cannabis cultivation and manufacturing company, has reported a net loss of $461.7 million for the quarter ended August 31, 2023. Despite the challenging market conditions, the company generated $5.1 million in revenue during the same period.

Financial Performance

Despite the significant loss reported in Q3, CLS Holdings has shown resilience in generating revenue. The quarter's revenue of $5.1 million, although lower than the previous year's $6.0 million, demonstrates the company's ability to maintain sales in a highly competitive industry. Additionally, the cost of goods sold for the quarter stood at $2.8 million, resulting in a gross margin of $2.3 million.