Canada House Cannabis Q3 FY23 Revenue Grows 70% YoY, What About Profit?
Portfolio Pulse from Vuk Zdinjak
Canada House Cannabis Group Inc. (CSE:CHV) reported Q3 FY23 financial results, showing a 70% YoY increase in net revenue to CA$9.3 million ($7 million). The company also reported a gross profit of CA$6.2 million, a net profit of CA$756,000, and adjusted EBITDA of CA$3 million. This marks the company's second consecutive quarterly net profit and third successive quarter of operating profit. The company continues to sell 100% of its low-cost flower produced from its IsoCanMed cultivation facility to MTL Cannabis.
June 30, 2023 | 1:54 pm
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POSITIVE IMPACT
Canada House Cannabis Group's Q3 FY23 results show strong growth in revenue and profitability, indicating a positive financial performance. This could potentially boost investor confidence and positively impact the company's stock price in the short term.
The company's strong Q3 FY23 results, marked by a 70% YoY increase in net revenue and a second consecutive quarterly net profit, indicate a positive financial performance. This could potentially boost investor confidence and positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100