BYND Cannasoft Q2 Revenue Grows 21% YoY, What About Net Loss?
Portfolio Pulse from Vuk Zdinjak
BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) (CSE:BYND) reported a 21% YoY increase in Q2 2023 revenue to CA$251,047 ($187,000). The company's gross profit and margin also improved, but its net loss increased 242% to CA$1.1 million. The CEO expressed satisfaction with the results and plans to introduce new products to the market before the end of 2023.
August 09, 2023 | 2:28 pm
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BYND Cannasoft's Q2 2023 results show revenue growth but a significant increase in net loss. The company plans to introduce new products by the end of 2023.
While BYND Cannasoft's revenue growth is a positive sign, the significant increase in net loss could be a concern for investors. However, the company's plans to introduce new products could potentially boost future revenues and profitability.
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