Heritage Cannabis Q2 FY23 Revenue Declines 1.5% YoY, Here Is What You Need To Know
Portfolio Pulse from Vuk Zdinjak
Heritage Cannabis Holdings Corp. reported a 1.5% YoY decrease in Q2 FY23 revenue, with net revenue of CA$7.4 million ($5.6 million). The company's gross margin increased due to improved production efficiencies and a lower excise rate. However, comprehensive loss increased to CA$2 million due to higher interest costs and unrealized losses on derivative liabilities. The company's entry into the U.S. market is performing well, with facilities in Missouri and West Virginia gaining a strong foothold.
June 29, 2023 | 1:48 pm
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Heritage Cannabis reported a decrease in revenue but an increase in gross margin. The company's comprehensive loss increased due to higher interest costs and unrealized losses on derivative liabilities. Its U.S. market entry is performing well.
The decrease in revenue could negatively impact the stock price, but the increase in gross margin and successful U.S. market entry could offset this. The increased comprehensive loss could also negatively impact the stock price.
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