Delta 9 Cannabis' Q1 Revenue Drops Slightly YoY, Gross Profit Grows 10%
Portfolio Pulse from Jelena Martinovic
Delta 9 Cannabis Inc. reported a slight decrease in Q1 2024 revenue but saw a 10% increase in gross profit. Despite operational losses, the company achieved a positive adjusted EBITDA. Shares traded slightly higher post-announcement.
May 16, 2024 | 12:41 pm
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Delta 9 Cannabis Inc. reported a slight decrease in Q1 2024 revenue but saw a 10% increase in gross profit. Despite operational losses, the company achieved a positive adjusted EBITDA. Shares traded slightly higher post-announcement.
The increase in gross profit and positive adjusted EBITDA are positive indicators for the company's financial health, despite the slight revenue drop and operational losses. This has led to a slight increase in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100