Canadian Cannabis Co. Entourage Health Q3 Revenue Slides 8.8% YoY - But Margins Sore, Losses Decline
Portfolio Pulse from Nina Zdinjak
Entourage Health Corp. reported a decline in Q3 revenue by 8.8% YoY to CA$12.2 million, but saw improvements in gross margins and reduced losses. The company's focus on operational efficiencies, automation, and cost reduction strategies contributed to a gross profit of CA$2.44 million compared to a gross loss last year, and a decrease in net loss to CA$9.9 million from CA$17.43 million. Despite a revenue decline, the company is positioning for sustained growth.
November 28, 2023 | 3:32 pm
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Entourage Health Corp. reported lower Q3 revenue but improved margins and reduced losses. The company's strategic initiatives are showing positive financial performance despite industry challenges.
The positive aspects of the report, such as improved margins and reduced losses, are likely to be viewed favorably by investors, potentially leading to a short-term positive impact on ETRGF's stock price.
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