LEEF Brands Cannabis Co. Is Cash Flow Positive For Third Consecutive Quarter, Reduced Net Loss
Portfolio Pulse from Nina Zdinjak
LEEF Brands, a Canadian cannabis company, reported financial results for Q2 2024, showing a net sales decrease to $7.9 million from $9.3 million YoY. Despite this, the company was cash flow positive for the third consecutive quarter and reduced its net loss to $3.9 million from $20.3 million YoY. Adjusted EBITDA improved to $437,138. LEEF shares closed 6.67% lower at $0.0070 per share.
August 02, 2024 | 1:50 pm
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NEUTRAL IMPACT
LEEF Brands reported a decrease in net sales but achieved positive cash flow for the third consecutive quarter and reduced its net loss significantly. Despite these positive operational metrics, the stock closed 6.67% lower.
The financial results show operational improvements and reduced losses, which are positive signs. However, the stock price decline suggests market concerns, possibly due to the overall decrease in net sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100