Medical Marijuana Q2 Revenue Declines 18.75% YoY, Here Are The Details

Medical Marijuana, Inc. MJNA released financial results for the quarter ending June 30, revealing net revenue of $7.8 million, a decrease of 18.75% compared to 9.6 million in Q2 2021.

Q2 2022 Financial and Operational Highlights

  • Gross profit for the period ending June 30, 2022, was $6 million.

  • Gross margins for the period were 76%.

“We continue to lead the industry as a pioneer in the space by focusing our business on international market expansion,” stated Medical Marijuana, Inc. CEO Blake Schroeder. “We have first mover advantage in nearly every market where the company operates with potential for continued international expansion well into the future. Beyond international expansion efforts, we continued our efforts in the second quarter in the pharmaceutical space as we believe this segment to hold tremendous future upside value for our company. In Brazil, we believe we will have products on pharmacy shelves by late this year or early 2023. Additionally, researchers at our investment company, Neuropathix, are utilizing grant money received from the National Institutes of Health to further their clinical research on its proprietary compound aimed at treating neuropathic pain and inflammation.”

About Medical Marijuana

Medical Marijuana, Inc. is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway and HempMeds. Medical Marijuana, Inc.'s headquarters is in San Diego, California.

Photo by Mackenzie Marco on Unsplash

Related News


Analyst Ratings




Posted In: CannabisEarningsNewsMarketsBlake Schroeder

Missed the first wave of cannabis investments? Don’t make that mistake again.

Experts believe cannabis stocks have found their floor and are now poised for unprecedented growth.

Join Benzinga PotProfits. Our in-house canna stock expert, Michael Berger, is on a mission to uncover the most promising cannabis stocks poised for growth, even in a dull market. He leaves no bud unturned to bring you the juiciest potential double-digit opportunities!

Just this year, the PotProfits portfolio has seen smoking-hot gains like:

  • 47.10% with $GTBIF
  • 40.23% with $TCNNF
  • 21.50% with $VFF

But here's the kicker: Michael is about to release his next potential winners, and he's chomping at the bit to share these ticker symbols with you ASAP.

Don't miss out on the green rush!