Decibel Cannabis Reports 22% YoY Decrease In Q2 Net Revenue, Plans To Benefit With New Product Launches
Portfolio Pulse from Jelena Martinovic
Decibel Cannabis Company Inc. (OTCQB:DBCCF) reported a 22% year-over-year decrease in Q2 net revenue to CA$22.1 million. Despite the decline, the company is optimistic about regaining market share with new product launches and improved capital efficiency. The company also reported a positive adjusted EBITDA of CA$3.9 million and a net income of CA$122,000. Shares of Decibel traded 4.29% higher at $0.0365 per share following the announcement.
August 14, 2024 | 2:33 pm
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Decibel Cannabis reported a 22% YoY decrease in Q2 net revenue but remains optimistic about regaining market share with new product launches. The company also reported a positive adjusted EBITDA and net income.
Despite the revenue decline, the market reacted positively to the company's new product launches and improved financial metrics, leading to a 4.29% increase in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100