SLANG Q2 Revenue Declines 14.5% YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
SLANG Worldwide Inc. reported a 14.5% YoY decrease in Q2 2023 revenue, with a total of CA$8.44 million. The company's gross profit also declined by 3.3% to CA$4.4 million, while its adjusted EBITDA was negative CA$762,000. However, SLANG's gross margin improved to 52% from 43% in Q2 2022. The company also highlighted its new high-margin products and efforts to reduce operating expenses and streamline operations.
August 24, 2023 | 12:53 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
SLANG Worldwide's Q2 2023 results show a decrease in revenue and gross profit, but an improvement in gross margin. The company's focus on high-margin products and cost reduction could potentially offset the negative impact of the revenue decline.
The decrease in revenue and gross profit indicates a challenging financial period for SLANG Worldwide. However, the improvement in gross margin and the company's strategic focus on high-margin products and cost reduction could potentially mitigate the negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100