Halo Collective FY22 Revenue Declines 32% To $24.5M
Portfolio Pulse from Vuk Zdinjak
Halo Collective Inc. reported a 32% decrease in FY22 revenue to $24.5M, compared to $36.2M in FY21. Despite the decline, the company saw improvements in gross profit and margins. The decrease in revenue was primarily attributed to pricing challenges in the cannabis markets of Oregon and California. The company is focusing on optimizing operations and product mix to drive long-term growth.
August 10, 2023 | 2:53 pm
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Halo Collective's FY22 revenue dropped by 32% due to pricing challenges in the cannabis markets. However, the company saw improvements in gross profit and margins.
The significant decrease in Halo Collective's revenue is a negative signal for investors, which could lead to a short-term decrease in the stock price. However, the company's improved gross profit and margins might mitigate this impact to some extent.
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