Simply Better's Q2 Gross Profit Increases 83% YoY, Revenue Down 17% As CBD Segment Dips
Portfolio Pulse from Jelena Martinovic
Simply Better Brands Corp. (TSXV:SBBC) (OTCQB:SBBCF) reported a Q2 2024 gross profit increase of 83% YoY, despite a 17% decline in revenue due to a dip in the CBD segment. The company also announced leadership changes and a focus on key growth areas after restructuring.
August 12, 2024 | 2:25 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Simply Better Brands Corp. (OTCQB:SBBCF) reported a significant increase in gross profit by 83% YoY for Q2 2024, despite a 17% decline in revenue due to a dip in the CBD segment. The company has also undergone leadership changes and restructuring to focus on key growth areas.
The significant increase in gross profit and positive adjusted EBITDA are positive indicators for the company's financial health. However, the decline in revenue due to the CBD segment dip and increased operating costs are concerns. The leadership changes and restructuring efforts are aimed at focusing on key growth areas, which could positively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100