Cannabis Co. Entourage Health Reports 126% YoY Increase In 2023 Gross Profit, Cuts Losses Significantly
Portfolio Pulse from Jelena Martinovic
Entourage Health Corp. reported its fiscal year 2023 financial results, showing a slight decrease in net revenue to CA$40.7 million, but a significant 126% increase in gross profit and a 62.5% reduction in net loss. The company's EBITDA loss improved by 79% due to discontinuation of cultivation activities. Shares of Entourage traded 7.33% lower at $0.0091 per share.
April 30, 2024 | 3:25 pm
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Entourage Health Corp. reported a 126% increase in gross profit and a significant reduction in net loss for FY2023, but shares fell 7.33% to $0.0091.
Despite reporting a significant increase in gross profit and a reduction in net loss, the immediate market reaction to Entourage Health's financial results was negative, leading to a 7.33% decrease in share price. This suggests that the market may have had higher expectations or there are other concerns affecting investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100