MediPharm Q2 Loss Narrows, Adjusted EBITDA Climbs As Gross Profit Improves Nearly 300% YoY
Cannabinoids-focused pharmaceutical company MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) announced on Wednesday financial results for the second quarter ended June 30, 2024, revealing an 8% year-over-year and 6% sequential increase to CA$10.3 million ($7.5 million). "We are very pleased with our Q2 results, showcasing substantial improvements in both revenue and profitability," David Pidduck, the company's CEO, said. "The strategic initiatives implemented, including cost reductions and operational efficiencies, are yielding positive results. We are particularly encouraged by the continued growth in our international sales and the progress in innovation of non-combustible cannabis formats."
