Is Delta 9 Cannabis Inc.'s Q2 2023 Revenue Surge Enough To Offset Net Losses?
Portfolio Pulse from Nicolás Jose Rodriguez
Delta 9 Cannabis Inc. (OTC:DLTNF) reported a net loss of $3.4 million for Q2 2022, a significant increase from the $0.8 million loss in the same quarter last year. However, the company's net revenue grew by 4% year-on-year to CAD $17.5 million, and sequentially surged by 40% from the preceding quarter. The company's CEO highlighted growth opportunities, nationwide retail expansion, and strategic M&A pursuits supported by a solid balance sheet.
August 14, 2023 | 11:16 pm
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Delta 9 Cannabis Inc. reported a larger net loss for Q2 2022 compared to the same period last year, but also showed significant revenue growth. The company's strategic growth plans and solid balance sheet may offset concerns about the increased loss.
The increased net loss reported by Delta 9 Cannabis Inc. for Q2 2022 could negatively impact investor sentiment and the company's stock price. However, the significant revenue growth and the company's strategic growth plans, supported by a solid balance sheet, may offset these concerns and stabilize the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100