INDXF - Indus marks first quarter with positive adjusted EBITDA

Indus ([[INDXF]] -0.6%) expects Q3 preliminary revenue of ~$14.1M, a $4.2M or 42% increase over Q2 2020.Adjusted EBITDA between $2.1M-2.3M compared to reported negative EBITDA of $3.3M in Q2, marking the first quarter with positive adjusted EBITDAGross margin of 40-42% compared to negative margin of 9% in Q2.Operating income before net change in fair value of biological assets of ~$1M compared to operating loss of $5.2M in Q2.These milestones reflect the improved margins resulting from increased cultivation output and the substantial product shift towards the sale of its own products.

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Indus marks first quarter with positive adjusted EBITDA