EDBL - Why Edible Garden Shares Are Jumping Today | Benzinga
Edible Garden AG Incorporated (NASDAQ:EDBL) shares are jumping today after it reported first-quarter FY24 results.
Revenue increased 27.6% Y/Y to $3.1 million, missing the consensus of $3.2 million. Revenue growth was led by increased customer demand for the cut and potted herbs products and the product lineup expansion.
Gross profit increased by 195.8% Y/Y, with a margin expansion of 171 basis points as the company started to realize the benefits of the strategic shift done earlier.
Selling, general and administrative expenses rose to $3.9 million from $2.7 million a year ago due to a one-time severance charge and higher audit, accounting, and legal fees related to the ...