Cost-Efficiency Leads To Profits For This Cannabis Company: Positive Q2 2023 Results Tell The Story
Portfolio Pulse from Nicolás Jose Rodriguez
Greenway Greenhouse Cannabis Corporation (CSE:GWAY) (OTCQB:GWAYF) announced its Q2 2023 interim financial results, highlighting positive adjusted EBITDA of CAD $16,408 on CAD $1,174,189 of revenue. The company reported a net income loss of $1,109,781 for the quarter due to factors like fair value adjustments on inventory and biological assets, amortization, share-based compensation, investor relation expenses, bad debt, and interest costs. The company's cost of sales led to a total gross margin of 18%.
August 30, 2023 | 4:06 pm
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Greenway Greenhouse Cannabis Corporation reported positive Q2 2023 results, with a focus on cost-efficiency. However, the company reported a net income loss for the quarter.
Greenway's positive EBITDA indicates operational profitability, which is a positive sign for investors. However, the net income loss could be a concern, potentially due to one-time expenses or operational inefficiencies. The company's focus on cost-efficiency could be a positive sign for future profitability.
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IMPORTANCE 80
RELEVANCE 100