BZAM Q1 Revenue Grows 127.9% YoY, What About Profit?
Portfolio Pulse from Vuk Zdinjak
BZAM Ltd. reported Q1 2023 net revenues of $17.7 million, up 127.9% YoY, but gross profit decreased 46.9% to $3 million. The company plans to improve margins and reduce SG&A, expecting to generate about CA$2.5 million in annual savings. BZAM also aims to launch 20 new products in Canada and expand into the UK market.
May 31, 2023 | 12:10 pm
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BZAM Ltd. reported strong Q1 2023 revenue growth but a decrease in gross profit. The company plans cost-saving measures and product expansion, which may positively impact its stock.
BZAM's strong revenue growth indicates a positive market response to its products and services. However, the decrease in gross profit may concern investors. The company's plans to improve margins, reduce costs, and expand its product offerings could positively impact its stock price in the short term.
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