PROC - Procaps Group reports Q1 results

2023-06-06 01:14:16 ET

• Procaps Group press release ( NASDAQ: PROC ): Q1 Revenue of $84M beats by $1M . On a constant currency basis, net revenues increased by 10%.
• Gross profit for 1Q23 totaled $46 million, with a 55% gross margin.
• Adjusted EBITDA reached $9 million, in line with previous year, with an Adjusted EBITDA margin of 11%. On a constant currency basis, adjusted EBITDA reached $11 million in 1Q23, a 22% increase vs. 1Q22.
• “Looking ahead in 2023, we expect to see continuing challenges and uncertainties, but we believe our aggressive growth plan including new product launches and rollouts, combined with our value-creation initiatives, on the back of a robust and growing base demand, will position us to achieve our near and long-term goals."

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