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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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