Cannabis Fintech POSaBIT Reports 69% YoY Revenue Drop, Improves Net Loss
Portfolio Pulse from Nina Zdinjak
POSaBIT Systems Corporation reported a 69% year-over-year revenue drop for Q2 2024, but improved its net loss by 71%. The company achieved adjusted EBITDA profitability and positive free cash flow, launched new products, and saw a 28.61% increase in share price.
August 28, 2024 | 2:06 pm
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POSaBIT Systems Corporation reported a significant 69% YoY revenue drop but improved its net loss by 71%. The company achieved adjusted EBITDA profitability and positive free cash flow, launched new products, and saw a 28.61% increase in share price.
Despite a significant revenue drop, POSaBIT improved its net loss and achieved profitability in adjusted EBITDA, which is a positive sign for investors. The launch of new products and a substantial increase in share price indicate market confidence and potential for future growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100