Today, we announce our financial results for the year ending 31 December 2023. They show the impact of challenging market conditions and the proactive steps we took to position our business well for when markets recover. Matt Pullen became our Chief Executive on 1 March 2024; he shares his thoughts for the future below. Read more about the results here https://lnkd.in/gzSBsuNt
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Revenue of $184 million. Gross profit of $95 million. Adjusted gross profit of $97 million up 4% YoY; and an Adjusted gross margin of 52% of revenue, a 570 bps improvement. SG&A of $54 million. Reduced Adjusted SG&A by 14% YoY to $53 million, or 29% of revenue. Net loss of ($51 million) which includes a one-time $61 million charge in the quarter related to the Company’s new tax position, as further described below. Adjusted EBITDA of $54 million, up 33% YoY; and Adjusted EBITDA margin of 29%, an 880 bps improvement. Operating cash flow of $17 million and Free Cash Flow of $11 million. Retained the No. 1 share position in Illinois, Pennsylvania and Massachusetts.
We announced our Q2 financial results today. You can read our press release here: https://lnkd.in/gnbFihU3
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Recognized as Canada's Financial Confidante | Certified Financial Planner | Financial Advisor | Financial Speaker | Financial Strategist | Wealth Professional
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6moCongratulations on the new financial results and the appointment of Matt Pullen as Chief Executive; looking forward to seeing the positive impact under his leadership!