Can B Corp (CANB)

[skyhawk66]

Yawn..notice how CANB shares are in tight hands,,very low volume on down days.
Easy to see why,,Another Record Quarter back to back.
Here are the Key Highlights to help with the Facts. Key sentence at the end-

“a reduction in cash losses.”

:

Key Financial Highlights for Q3 2022

Revenue increased 51% to $2.9 million

Gross profit increased 36% to $1.9 million

Gross margin decreased to 64.3%

Adjusted EBITDA loss decreased by 25% to $1.5 million

Accounts receivable at $7.0 million

Inventory at $2.3 million

Total assets at $16.7 million

Total stockholders’ equity at $4.5 million

Key Financial Highlights for 9 Months Ended September 30, 2022

Revenue increased 130% to $6.0 million

Gross profit increased 59% to $2.8 million

Gross margin decreased to 46.0%

Adjusted EBITDA loss decreased by 15% to $4.5 million

Key Business Highlights for Q3 2022

Signed Manufacturing and Distribution Agreement for Superfood Products with Forever Brands and Brooke Burke via BB Body, Inc.

Consolidated Hemp Division Operations in Colorado

Management Commentary

Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are thrilled with our tremendous quarterly results, having achieved the highest quarterly revenue in our company history. We generated $2.9 million in quarterly revenue while reducing our cash burn as demonstrated by the 25% decrease in Adjusted EBITDA. Our team made great strides over the past several months integrating and ramping up the various operations we strategically acquired over the past year to complete our vertical processing capabilities.”

Alfonsi concluded, “We had a vision and were confident in the assets we were assembling over the past year. It is great to see all the challenging work pay off and result in accelerating revenue growth and a reduction in cash losses.