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Decibel Cannabis Reports 22% YoY Decrease In Q2 Net Revenue, Plans To Benefit With New Product Launches

Decibel Cannabis Company Inc. (TSXV:DB) (OTCQB:DBCCF) reported on Wednesday its unaudited interim financial results for the second quarter ending June 30, 2024. “Decibel has shown good discipline in reducing our current liabilities by ~5mm this quarter," said Benjamin Sze, Decibel’s CEO. "Market share has been challenged but early indications from Qwest relaunch suggest we will regain market share in flower.  A continued focus on execution and capital efficiency will serve as the platform for future growth.” The company reported net revenue of CA$22.1 million ($16.1 million), down from CA$28.5 million in the prior year's period, representing a 22% year-over-year drop. Its first quarter report published this past April revealed a 16% year-over-year revenue drop to CA$21 million and an adjusted net loss of CA$3.5 ...