Vext Science Q2 Revenue Grows 4.8% YoY, What About Income?
Portfolio Pulse from Vuk Zdinjak
Vext Science, Inc. (OTCQX:VEXTF) (CSE:VEXT) reported Q2 2023 revenue of $9.2 million, up 4.8% YoY and 0.8% QoQ. However, gross profit, gross margin, net income, and adjusted EBITDA all decreased significantly compared to Q2 2022. The company also announced the approval of the Ohio Department of Commerce for the ownership transfer of Appalachian Pharm Processing, LLC, as part of its acquisition of APP for approximately $12.5 million.
August 23, 2023 | 12:00 pm
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Vext Science's Q2 2023 results show revenue growth but significant decreases in profit, margin, and income. The company's acquisition of APP could potentially boost future revenues.
While Vext Science's revenue growth is a positive sign, the significant decreases in profit, margin, and income could negatively impact investor sentiment in the short term. However, the acquisition of APP could potentially boost future revenues and profitability, which could have a positive impact in the long term.
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