Canadian Weed Edibles Producer's Q2 Financial Results Show Drop In Revenue & Gross Profit, Here's Why
Portfolio Pulse from Jelena Martinovic
Canadian cannabis edibles producer Indiva Limited reported a drop in revenue and gross profit for Q2 2023. The company's gross revenue was $5.9 million, a 21.6% sequential drop and an 8.5% YoY decrease. Net revenue from edible products declined to $6.9 million, down 6.2% from the prior quarter and 5.5% from the prior year. The company attributed the decline to the loss of revenue from its Indiva Life Lozenges and partial revenue loss from the transition to contract manufacturing of Wana gummies.
August 29, 2023 | 4:06 pm
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Indiva Limited's Q2 2023 financial results show a drop in revenue and gross profit. This could negatively impact the company's stock price in the short term.
The company's financial results are a key factor that investors consider when making investment decisions. The reported drop in revenue and gross profit indicates a potential decline in the company's financial health, which could negatively impact investor sentiment and lead to a decrease in the company's stock price.
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