TILT Holdings' Strong Q3 2023, Double-Digit Revenue Growth & 20% Reduction In Expenses
Portfolio Pulse from Joana Scopel
TILT Holdings Inc. (OTCQB:TLLTF) reported a strong Q3 2023 with a 10% revenue increase to $44.6 million and a 20% reduction in operating expenses. The company saw a 44.8% improvement in net loss and a substantial increase in adjusted EBITDA to $2.2 million. Operational highlights include a sale of membership interests, a claim for employee retention credits, a brand partnership, and a fundraising partnership. CEO Tim Conder anticipates a delay in Q4 revenue due to Chinese New Year but expects growth in 2024. TLLTF's stock was down 18.42% at $0.031 per share.
November 13, 2023 | 10:45 pm
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NEGATIVE IMPACT
TILT Holdings reported strong Q3 2023 results with revenue growth and reduced expenses, but its stock price fell 18.42%.
The significant drop in TLLTF's stock price despite positive Q3 results suggests that the market may have had higher expectations or there may be other concerns not addressed in the report. The short-term impact is negative due to the stock price decline, but the company's operational improvements could provide a positive outlook for the long term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100