Net loss of $21.6M, or EPS of $0.28. Net loss includes a $14.4M trade and loan receivables impairment and a $2M non-cash charge on an increase in the fair value of warrant liabilities.
Adjusted EBITDA loss of $19.1M vs. profit of $4.1M last year.
$33.9M in cash and cash equivalents and a working capital surplus of $77.8M.
Company expects an operating loss for H2 and longer term focus remains a steady recovery of profitability and cash generation of the business and we would hope to reestablish a run rate of operating income profitability during the fiscal year ending February 29, 2024.
SA states that the stock is at a high risk of performing badly due to decelerating momentum and negative EPS revisions.
