Jones Soda Revenue Grows 49% YoY Boosted By THC-Infused Beverages Sales, Net Loss Higher As It Supports Growth Plans
Portfolio Pulse from Nina Zdinjak
Jones Soda Co. (OTCQB:JSDA) reported a 49% YoY revenue increase to $7.2 million for Q2 2024, driven by THC-infused beverage sales. Despite the revenue growth, the company saw a higher net loss of $1.6 million due to increased operating expenses aimed at supporting growth initiatives. The company also launched new products and expanded its Mary Jones cannabis brand.
August 14, 2024 | 12:42 pm
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Jones Soda Co. (OTCQB:JSDA) reported a 49% YoY revenue increase to $7.2 million for Q2 2024, driven by THC-infused beverage sales. Despite the revenue growth, the company saw a higher net loss of $1.6 million due to increased operating expenses aimed at supporting growth initiatives. The company also launched new products and expanded its Mary Jones cannabis brand.
The significant revenue growth of 49% YoY and the expansion of product lines, including THC-infused beverages, are positive indicators for future revenue. However, the higher net loss due to increased operating expenses may concern some investors. Overall, the company's growth initiatives and new product launches suggest a positive short-term impact on the stock price.
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