Planting hope continues sales momentum in q2 2023, focuses on foodservice channel development and executing strategic path to profitability

Combined gross revenues for q1 + q2 2023 (usd $8.1 million | cad $7.8 million) exceeded combined q1 + q2 revenues for 2022 (usd $5.9 million | cad $8.0 million) achieved q2 2023 revenues of usd $2.7 million (cad $3.7 million), a decrease of 19% over q2 2022 revenues of usd $3.3 million (cad $4.5 million), as the company strategically adjusted its channel and promotional strategies to focus on near-term transactionally profitable channels, products, and customers selling, general, and administrative (sg&a) expenses decreased by 16% to usd $2.6 million (cad $3.5 million) in q2 2023 compared to usd $3.1 million (cad $4.2 million) in q2 2022; sg&a in q1 + q2 2023 combined decreased by 19% over q1 + q2 2022, and sg&a as a percentage of revenue declined by 21% chicago, il and vancouver, bc / accesswire / august 30, 2023 / the planting hope company inc. (tsxv:mylk)(otcqb:mylkf)(fra:j94) ("planting hope" or the "company"), a foodtech company focused on leveraging cutting-edge ingredient, formulation, and packaging technology to develop breakthrough sustainable and nutritious food and beverage solutions, is pleased to report financial results for the three months ended june 30, 2023. all figures are in u.s. dollars unless otherwise stated.
CAVA Ratings Summary
CAVA Quant Ranking