Flora Growth Q2 Revenue Declines 27% YoY, Reduces Net Loss, Highlights Strategic Expansion In Germany, Australia And US
Portfolio Pulse from Nina Zdinjak
Flora Growth Corp (NASDAQ:FLGC) reported a 27% YoY decline in Q2 revenue to $15.68 million, primarily due to JustCBD's performance. Despite the revenue drop, the company reduced its net loss by 94% and highlighted strategic expansions in Germany, Australia, and the US. Flora Growth's shares closed 1.07% lower at $0.93 per share.
August 13, 2024 | 12:41 pm
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Flora Growth Corp reported a 27% YoY decline in Q2 revenue to $15.68 million, primarily due to JustCBD's performance. Despite the revenue drop, the company reduced its net loss by 94% and highlighted strategic expansions in Germany, Australia, and the US.
The significant YoY revenue decline is a negative indicator, but the substantial reduction in net loss and strategic expansions could offset some of the negative sentiment. The stock's slight decline of 1.07% reflects a mixed market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100