Post by
Torontojay on Aug 03, 2021 6:39am
Currency and real estate headwind
Unfortunately for Urbanimmersive they are being hit with a double whammy of headwinds with soft real estate listings coupled with a stronger Canadian dollar. Most of the companies revenues is derived in the United States and so when US sales gets converted to Canadian $'s, the net impact will lower overall sales. I've calculated it will have an impact of approximately 3% of reported US denominated sales.
Comment by
Torontojay on Aug 03, 2021 7:03am
To be clear the impact on US denominated sales when converted to Canadian currency will lower sales by 3% relative to Q2, 2021 and 12.8% relative to Q3 2020.