FLUENT Corp. is expanding its MOODS vaporizer range with the introduction of New York Minute, a new cannabis oil product crafted with botanical terpenes that blend apple and apricot flavors. This sativa-dominant oil is targeted at adult consumers in New York, capturing the state's energetic and lively essence. The new product is offered in two portable All-in-One device sizes: a 1g Mini and a 0.5g Dash, ensuring both convenience and quality for users on the go.
The New York Minute will be stocked at all FLUENT retail outlets across New York and distributed widely through Entourage Wholesale to third-party retailers, making it readily accessible to consumers throughout the state.
CNTMF Key Business Developments
Release Date: April 17, 2025
- Annual Revenue: $103.6 million, a 6.4% increase over 2023.
- Q4 Revenue: $24.9 million, down from $25.5 million in Q4 2023.
- Florida Revenue (Q4): $20.3 million, compared to $21.6 million in 2023.
- Adjusted Gross Profit (Q4): $10 million or 40.1% of revenue, down from $12.6 million or 49.4% in 2023.
- Adjusted EBITDA (Q4): $3 million, compared to $6.9 million in 2023.
- Cash Flow Used in Operations (Q4): $14.7 million, compared to cash flow provided by operations of $1.4 million in 2023.
- Adjusted Gross Profit (Full Year): $50.3 million or 48.6% of revenue, compared to $49.5 million or 50.9% in 2023.
- Adjusted EBITDA (Full Year): $25 million, compared to $27.2 million in 2023.
- Cash and Cash Equivalents (End of 2024): $40.1 million.
- Total Debt Outstanding (End of 2024): $82.4 million.
- Store Locations: 42 locations across Florida, New York, Pennsylvania, and Texas, with plans to open three more in Florida by year-end.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- FLUENT Corp (CNTMF, Financial) achieved a record-breaking annual revenue of $103.6 million in 2024, marking a 6.4% increase over 2023.
- The successful acquisition of RIV Capital expanded FLUENT Corp's operational footprint in New York, enhancing its multistate presence.
- The company strengthened its financial position with a non-dilutive debt refinancing and ended the year with over $40 million in cash and cash equivalents.
- FLUENT Corp launched new brands, MOODs and KNACK, in New York, and introduced Hyer Kind, a concentrates line, in Florida, which are gaining early traction with consumers.
- The company is expanding its operational footprint with 42 locations across Florida, New York, Pennsylvania, and Texas, and plans to open three more stores in Florida by year-end.
Negative Points
- Revenue in the fourth quarter of 2024 decreased to $24.9 million from $25.5 million in Q4 2023, primarily due to price pressures from increased inventory in Florida.
- Florida revenue dropped to $20.3 million compared to $21.6 million in 2023, impacting overall financial performance.
- Adjusted gross profit for Q4 2024 was $10 million or 40.1% of revenue, down from $12.6 million or 49.4% of revenue in 2023.
- Adjusted EBITDA for Q4 2024 decreased to $3 million from $6.9 million, driven by the decline in the Florida market.
- Cash flow used in operations for the last quarter of 2024 was $14.7 million, a significant decline from the $1.4 million provided by operations in the prior year.
