Canadian Marijuana Stock Posts 133% YoY Revenue Growth, But Also 124% Higher Net Loss In Q2
Portfolio Pulse from Nina Zdinjak
Adastra Holdings Ltd. reported Q2 2023 financial results, with net revenue of CA$7.1 million, up by 132.68% YoY, attributed to increased throughput at the Langley facility. However, the net loss also increased by 124% to CA$1.07 million. The company's operating expenses as a percentage of revenue decreased from 42% in Q2 2022 to 21% in Q2 2023, while the cash position increased to CA$2M.
August 18, 2023 | 3:07 pm
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Adastra Holdings reported a significant increase in revenue but also a higher net loss in Q2 2023. The company's operating expenses as a percentage of revenue decreased, indicating improved efficiency.
While Adastra's revenue growth is a positive sign, the increased net loss could be a concern for investors. However, the decrease in operating expenses as a percentage of revenue indicates improved efficiency, which could potentially lead to better profitability in the future.
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IMPORTANCE 80
RELEVANCE 100