Vibe Growth Cannabis Mixed Q3 Results: Gains In Efficiency, Losses In Revenue
Portfolio Pulse from Patricio Liddle
Vibe Growth Corp (OTCQB:VIBEF) reported mixed Q3 2023 results with a revenue decline of 8.1% to $3.39 million and a net loss of $1.34 million, consistent with the same period in 2022. However, the company saw an improvement in dispensary gross margin to 49.7% and a positive EBITDA of $1.17 million for the quarter. CEO Mark Waldron attributed growth to strategic changes and cost reductions. VIBEF's stock was trading at $0.021 per share.
November 30, 2023 | 7:22 pm
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Vibe Growth Corp reported a revenue decline and a consistent net loss in Q3 2023, but showed improved efficiency with higher dispensary gross margins and a positive EBITDA.
While Vibe Growth Corp's revenue declined, the improvement in dispensary gross margins and a positive EBITDA suggest operational efficiency, which could balance investor sentiment. The stock price is relatively low, indicating that the market may have already priced in the mixed results. The CEO's strategic changes and cost reductions may provide some optimism, but the overall impact on the stock is likely to be neutral in the short term.
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IMPORTANCE 75
RELEVANCE 100