Canadian Edibles Producer Indiva Reports Modest Q1 Results, Eyes Strong 2024 After Strategic Realignments
Portfolio Pulse from Patricio Liddle
Indiva Limited (OTCPK: NDVAF), a Canadian cannabis edibles producer, reported a marginal decrease in Q1 2024 revenue to CA$9.3 million, influenced by seasonal declines and regulatory changes. Despite a net loss of CA$1.8 million, the company saw a 160% growth in net revenue from core brands like Pearls by Grön. Indiva projects a promising Q2 2024 with higher net revenue and enhanced margins.
May 24, 2024 | 5:47 pm
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Indiva Limited reported a slight decrease in Q1 2024 revenue to CA$9.3 million, influenced by seasonal declines and regulatory changes. Despite a net loss of CA$1.8 million, the company saw significant growth in core brands and projects a promising Q2 2024 with higher net revenue and enhanced margins.
Despite a slight revenue dip and net loss in Q1 2024, Indiva's core brands showed strong growth, and the company projects a promising Q2 2024 with higher net revenue and enhanced margins. This positive outlook is likely to boost investor confidence and potentially drive the stock price up in the short term.
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