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Ayurcann Holdings Corp. AYURF AYUR (FSE:3ZQ0) released its financial results for the three-months ended December 31, 2022, revealing net revenue of CA$3.09 million ($2.27 million), a 4% increase compared to CA$2.97 million in Q2 FY 2022.
Q2 FY 2023 Financial Highlights
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Gross profit was CA$1.36 million compared to CA$1.56 million in Q2 FY 2022.
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Gross margin was 44% compared to 52% in Q2 FY 2022.
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Net loss and comprehensive loss CA$162,985 compared to a loss of CA$207,249 in Q2 FY 2022.
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Cash at the end of period was CA$1.15 million.
“As we continue to expand to more markets across the country with our offerings, we are thrilled to report consistent growth in our revenue and market share despite the price compression that continues to impact the cannabis industry. Ayurcann is proud to have generated an increase in revenue from its business-to-consumer strategy. Ayurcann is selling products across the country and has 6,500 products listed for sale throughout the vape, concentrate, oil and flower sectors. The increase in revenue, combined with the growth of our in-house brands, continues to have a positive impact on the future development of Ayurcann,” stated Igal Sudman, CEO of Ayurcann.
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Photo: Benzinga edit with photo by Kindel Media on Pexels
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Image and article originally from www.benzinga.com. Read the original article here.