BZAM Q2 Revenue Grows 66% YoY, What About Profit?
Portfolio Pulse from Vuk Zdinjak
BZAM Ltd. reported Q2 2023 net revenue of CA$19.3 million ($14.3 million), a 66% YoY increase. However, gross profit decreased by 75% to CA$1.8 million, and the company reported a comprehensive loss of CA$65.6 million. The company is focusing on cost reduction and revenue expansion, and has divested or plans to divest several facilities to reduce expenses.
August 24, 2023 | 11:44 am
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BZAM Ltd. reported a significant increase in Q2 2023 net revenue but a decrease in gross profit. The company's divestment strategy may impact future performance.
While BZAM Ltd. reported a significant increase in Q2 2023 net revenue, the decrease in gross profit and comprehensive loss indicate financial challenges. The company's strategy to divest several facilities to reduce costs could impact future performance, but it's unclear how this will affect the stock price in the short term.
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