Canadian Ancillary Cannabis Company Reveals Slight Revenue Drop In Q3, Here's More Details
Portfolio Pulse from Jelena Martinovic
EnWave Corporation reported its Q3 2023 financial results, revealing a 7% YoY decrease in revenue to $1.84 million. Operating expenses were down by 32% YoY, and the loss for the period decreased from the previous year. The company also reported a 14% YoY improvement in adjusted EBITDA, despite a decrease in gross margin. For the nine months ended Q3 2023, revenue was up compared to the same period in fiscal 2022.
August 25, 2023 | 2:06 pm
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NEUTRAL IMPACT
EnWave Corporation's Q3 2023 results show a decrease in revenue and gross margin, but a decrease in operating expenses and loss for the period. This mixed performance may lead to uncertainty among investors.
The decrease in revenue and gross margin could negatively impact the stock price. However, the decrease in operating expenses and loss for the period could be seen as positive, leading to a neutral short-term impact.
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