The following is a summary of the Entourage Health Corp. (ETRGF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Entourage Health Corp. reported a first-quarter revenue of $16.4 million, indicating a 9% year on year growth and a 23% sequential increase from the Q4 revenue in 2023.
Gross profit recorded a significant improvement, rising by 92% year on year to achieve a record gross margin of 45%.
The company was able to significantly reduce costs per unit via scaling operations and marked an increase in EBITDA by over $4 million, indicating their first quarter of positive EBITDA.
Business Progress:
The company made significant strides in brand impact, product optimization, automation, and market penetration.
The launch of the Dime Bag brand was successful, with rapid growth reported in Ontario and Alberta.
Investments in pre-roll automation have considerably enhanced production capabilities.
The company continues to lead in the medical sector, with Starseed maintaining a stable patient population.
Furthermore, there are plans in place to introduce new products in international markets as part of their growth strategy.
More details: ENTOURAGE HEALTH CORP IR
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