- The Valens press release ( NASDAQ: VLNS ): Q3 GAAP EPS of -$0.34.
- Revenue of $20.3M (-3.3% Y/Y) misses by $0.38M .
- Adjusted gross profit was $5.1 million, or 24.9% of net revenue in Q3 2022 compared to $4.1 million, or 17.2% of net revenue in Q2 2022.
- Adjusted EBITDA improved by $6.1 million quarter-over-quarter to $(9.8) million in Q3 2022 compared to $(15.9) million in Q2 2022.
- In light of the proposed acquisition of the Company by SNDL, Valens is withdrawing all previously given financial guidance as such financial guidance is no longer appropriate under the circumstances.
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The Valens GAAP EPS of -$0.34, revenue of $20.3M misses by $0.38M