Irwin Naturals Q1 FY23 Revenue Stagnates YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
Irwin Naturals reported Q1 FY23 revenue of $22.5 million, down 0.4% from Q1 2022. The company experienced a net loss of $7.7 million, including $6.5 million of impairment charges related to 2022 acquisitions. Adjusted EBITDA was negative $880,000. Irwin Naturals launched its first products in the cannabis market and signed ten brand licensing deals.
June 01, 2023 | 12:02 pm
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Irwin Naturals reported a decrease in Q1 FY23 revenue and a net loss, but expanded into the cannabis market with new products and licensing deals.
Irwin Naturals' Q1 FY23 revenue decreased slightly, and the company reported a net loss, which could negatively impact the stock price. However, the company's expansion into the cannabis market with new products and licensing deals may provide potential growth opportunities in the future.
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