NDVAF - Canadian Weed Edibles Producer's Q2 Financial Results Show Drop In Revenue & Gross Profit Here's Why | Benzinga
Canadian cannabis edibles producer Indiva Limited (TSXV: NDVA) (OTCQX: NDVAF) reported on Tuesday its second quarter financial results for the three months ending June 30, 2023.
"This was a transitional and busy quarter for Indiva, with several cross-currents impacting our results, including the negative impact from the loss of revenue from our Indiva Life Lozenges and partial revenue loss in the quarter from the transition to contract manufacturing of Wana gummies, offset by continued growth and excellent market share gains from Pearls by Grön gummies," Niel Marotta, president and CEO of Indiva, said.
Marotta was a guest speaker at Benzinga Cannabis Capital Conference in April 2021. The event returns to Chicago this September and will feature a slew of top cannabis CEOs, executives, entrepreneurs and lawmakers in the space.
Q2 2023 Financial Highlights
- Gross revenue was CA$ 8.1 million ($5.9 million), representing a 21.6% sequential drop and an 8.5% year-over-year ...