Above Food FY24 Revenue Was $273M Vs $293M YoY
Portfolio Pulse from Benzinga Newsdesk
Above Food reported FY24 revenue of $273M, down from $293M YoY. The company had a net loss of $39.5M, higher than the $33.7M loss in FY23. Gross profit was negative $4.4M, and adjusted gross profit was negative $1.2M. The company has $50M in gross debt and $0.7M in cash as of January 31, 2024.
July 25, 2024 | 8:40 pm
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Above Food's FY24 revenue decreased to $273M from $293M YoY, with a net loss of $39.5M. Gross profit was negative $4.4M, and adjusted gross profit was negative $1.2M. The company has significant debt and low cash reserves.
The decrease in revenue and significant net loss, along with negative gross profit and high debt levels, are likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100