Avant Q2 FY23 Net Revenue Grows 96% YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
Avant Brands Inc reported a 96% YoY increase in Q2 FY23 net revenue, reaching CA$8 million ($6 million). The company also saw a 294% increase in gross profit and a positive shift in adjusted EBITDA. Avant completed the closing of a CA$3.5 million credit facility, secured by the company's non-operational and non-licensed real property. The company is also facing a claim from Desjardins Securities Inc. for alleged damages of approximately CA$1 million for breach of contract.
July 18, 2023 | 12:20 pm
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NEUTRAL IMPACT
Avant Brands reported strong Q2 FY23 results with significant YoY growth in net revenue and gross profit. However, the company is facing a legal claim from Desjardins Securities, which could potentially impact its financial position.
The strong Q2 FY23 results reported by Avant Brands indicate a positive financial performance, which could potentially attract investors and drive the stock price up. However, the legal claim from Desjardins Securities introduces uncertainty and potential financial risk, which could negatively impact the stock price. Therefore, the short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100