Cannara Biotech Q3 FY23 Net Revenue Grows 57% YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
Cannara Biotech Inc. reported its Q3 FY23 financial results, showing a 57% YoY increase in net revenue to CA$15.9 million ($12 million). Other highlights include an 81% increase in gross profit to CA$8.6 million, a 105% increase in adjusted EBITDA to CA$3.9 million, and a 107% improvement in net income to CA$2.9 million. The company also reported a 113% increase in free cash flow to CA$3.2 million and has CA$27.1 million in working capital. Cannara's market share grew by more than 30% in Quebec and Ontario, and it began sales in Alberta.
July 27, 2023 | 1:09 pm
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Cannara Biotech's Q3 FY23 results show strong growth in revenue, profit, and market share, which could positively impact its stock price.
Cannara Biotech's strong Q3 FY23 results, including significant increases in revenue, profit, and market share, indicate a healthy financial position and potential for continued growth. This is likely to be viewed positively by investors and could lead to an increase in the company's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100