Covalon Technologies: Strong Q2 Financial Momentum

Covalon Technologies (TSE:COV) has released an update.

Covalon Technologies Ltd. reports a robust second quarter in fiscal 2024, demonstrating a 16% revenue growth and a significant increase in gross margin to 63%, marking the highest in the company’s history. The company achieved an EBITDA of $1.7 million and adjusted EBITDA of $2.5 million, with earnings per share of $0.06, while also reducing operating expenses by 22% from the previous year. This financial success reflects the company’s effective strategy and operational execution, leading to a positive outlook for the remainder of the fiscal year.

For further insights into TSE:COV stock, check out TipRanks’ Stock Analysis page.

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