Christina Lake Cannabis Q2 FY23 Revenue Grows 49.8% YoY, What About Profit?
Portfolio Pulse from Vuk Zdinjak
Christina Lake Cannabis Corp. reported Q2 FY23 revenue of CA$3.5 million, a 49.8% increase YoY. However, gross profit decreased by 41.3% to CA$500,180 and the company reported a loss of CA$774,751. The company's working capital stood at CA$1.7 million as of May 31, 2023.
August 01, 2023 | 2:11 pm
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Despite a significant increase in revenue, Christina Lake Cannabis reported a decrease in gross profit and a loss for Q2 FY23, which could negatively impact investor sentiment.
While the company's revenue growth is a positive sign, the decrease in gross profit and reported loss indicate potential issues with cost management or operational efficiency. This could lead to negative investor sentiment and a potential decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100