Greenway Greenhouse Cannabis FY23 Revenue Grows 183%, What About Profit?
Portfolio Pulse from Vuk Zdinjak
Greenway Greenhouse Cannabis Corporation (OTCQB:GWAYF) (CSE:GWAY) reported FY23 revenue of CA$5.6 million ($4.2 million), a 183% increase from FY22. However, gross profit decreased by 12% to CA$741,990 and gross margin dropped to 13.2% from 42.5%. The company also reported a loss of CA$2.6 million, slightly less than the CA$2.9 million loss in FY22. Greenway issued 964,285 common shares to Hybrid Financial Ltd. in partial settlement of outstanding debt.
July 31, 2023 | 1:14 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Greenway's FY23 results show strong revenue growth but a decrease in profitability. The company's issuance of shares for debt settlement could dilute existing shareholders.
While Greenway's revenue growth is impressive, the decrease in gross profit and margin indicates potential issues with cost management. The issuance of shares to settle debt could dilute the value of existing shares, potentially impacting the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100