BYND Cannasoft Enterprises Inc. Q2 Revenue $251.05M Up From $207.65M YoY
Portfolio Pulse from Happy Mohamed
Cannasoft Enterprises Inc. reported Q2 2023 revenues of $251.05M, up 21% from $207.65M YoY. However, the company's gross profit decreased to 57% from 59% in 2022, and its net loss increased 242% to $1,147,324. The company's working capital and total assets also decreased.
August 08, 2023 | 8:50 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Cannasoft Enterprises' Q2 2023 financial results show increased revenues but decreased gross profit and increased net loss, which could negatively impact the company's stock.
While Cannasoft Enterprises' Q2 2023 revenues increased, the decrease in gross profit and increase in net loss could be concerning to investors. This could lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100