MEDIF - Cannabinoids-Focused Pharma Company MediPharm Sees Higher Q1 Revenue CFO Touts 'Strong Financial Position' | Benzinga
MediPharm Labs Corp. (TSX:LABS) (OTCQB:MEDIF) (FSE: MLZ) announced its financial results for the first quarter ended March 31, 2024. The pharmaceutical company specializing in precision-based cannabinoids revealed a revenue increase of 67% to $9.8 million versus revenue for the same quarter in 2023 of $5.8 million.
“This quarter shows another quarter of growing revenue, stronger gross profit, decreasing costs and improving Adjusted EBITDA," stated David Pidduck, CEO. "MediPharm’s balance sheet is in an excellent position to consider future investments in growth. With Adjusted EBITDA getting close to breakeven, the leadership team can now devote even more energy to growing our business. Regulatory changes in Germany and Australia and potential upcoming changes in the US are all very favorable for the company.”
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