Medipharm Labs Corp T.LABS

Continued progress ... shortened path to profitability

[mdjbrown]

Q3 - 2023    -   Nov 14, 2023, 07:15 ET

Management Commentary
David Pidduck, CEO, MediPharm Labs commented, "We are proud of our focus on margins, cost reductions and profitability. Now, our strong balance sheet and improving profitability favourably positions us to make strategic investments for revenue growth. Beyond organic growth investments, there will be many M&A opportunities to consider in the coming quarters to further grow our revenue and shorten the path to profitability."

Greg Hunter, CFO, MediPharm Labs added, "In Q3, we continued to make progress by improving gross margins, reducing expenses and reducing cash burn as we drive towards profitability.   Adjusted EBITDA of negative $2.4 million improved sequentially and year over year and is our best result in over 2 years.  In addition, we strengthened our balance sheet with the settlement of an outstanding dispute resulting in cash collection of $7.3 million subsequent to quarter end and as of today we have approximately $19 million in cash and less than $3 million of debt."

[Lemoyne]

Yes, if you actually read it right, M&A will shorten the path to profitability. So... No M&A announced yet... If it really depends on M&A, since it hasn't even been announced yet, maybe end of 2024.

[alleyesonme]

When you consider at the beginning of q4.........new products launched in the tightly regulated Australian market, (replenishment happened much sooner than expected according to Keith's twitter)....pre rolls in germany, two new supply deals in the U.K, growing Canadian sales according to headset, including the number 1oil consecutively in Ontario (nighttime formula) , the elimination of

[subaru1i]

AND...."expanded strategic manufacturing agreement" with Avicanna.