Good Natured Products (TSE:GDNP) has released an update.
Good Natured Products Inc. reported a Q1 2024 revenue of $14.1 million, a 31% decline from Q1 2023, alongside a slight increase in adjusted EBITDA to $0.2 million and a higher variable gross margin of 40%. The company attributed the revenue drop to industry-wide slow demand in January, the discontinuation of a petroleum-based product line, and reduced orders from a major US food producer. Despite these challenges, cost reduction initiatives and a focus on profitability led to positive adjusted EBITDA for the tenth consecutive quarter.
For further insights into TSE:GDNP 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.
