Delivra Health Brands Inc. DHBUF DHB released its financial and operating results for the three and nine months ended March 31, 2023, revealing net revenue from continued operations of CA$2.35 million ($1.7 million) in Q3 2023 as compared to CA$2.34 million in same period last year. The company maintained approximately the same level of net revenue due to higher sales of Dream Water in the US to international distributors.
Q3 2023 Financial Highlights
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Gross profit was CA$961,000, compared to CA$914,000 in Q3 2022.
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Gross profit margin of 41%, compared to 39% in Q3 2022.
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Adjusted EBITDA of CA$23,000 as compared to negative CA$607,000 in Q3 2022.
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Comprehensive loss was CA$749,000 compared to a loss of CA$1.7 million in Q3 2022.
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Cash at the end of the period was CA$2.9 million
"For the second time this year, the company is profitable from an adjusted EBITDA perspective, for the three months ended March 31, 2023, and we are looking to repeat this moving forward by reinvesting in our business in the form of innovation and new distribution channels," stated Gord Davey, president and CEO of Delivra Health. "As indicated when the company reported on its performance for the three and six months ended December 31, 2022, the company increased its investment in further innovation projects, customer programs and marketing campaigns in Q3 2023, and this is now supporting the company's brands and its future prospects."
Price Action
Delivra Health shares were trading 27.16% at $0.0167 per share at the time of writing Tuesday morning.
Photo by Tim Foster on Unsplash .
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