Zoned Properties' CEO, Bryan McLaren, recently spoke with Steve Darling on Proactive to share the company's second-quarter financial results and operational highlights, demonstrating strong growth in its real estate development endeavors, particularly in emerging and highly regulated industries like legalized cannabis.
McLaren noted that the company achieved significant revenue growth during the quarter ended June 30, 2023, with revenues reaching $772,617. This marked a notable increase of 55% compared to the revenues of $498,652 recorded for the same quarter in the previous year.
Additionally, Zoned Properties reported a net income of $42,159 for the quarter, a notable shift from the net loss reported in the same period of the previous year.
McLaren also shared the company's ongoing efforts in developing its proprietary cannabis AI technology platform, REZONE. This innovative platform aims to democratize real estate information for the regulated cannabis industry. By providing zoning and mapping software solutions, REZONE is designed to simplify the process of capturing cannabis real estate insights for users.
Zoned Properties is actively working on further refining and expanding REZONE as it moves closer to its commercial launch. These financial results and technological advancements underscore Zoned Properties' commitment to sustainable growth and innovation within the highly regulated sectors it operates in, positioning the company as a significant player in real estate development for emerging industries such as legalized cannabis.
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