Aluula Composites Inc (TSE:AUUA) has released an update.
ALUULA Composites Inc. reported a significant first-quarter revenue increase of 61% in 2024, driven by the expansion of its customer base in wind sports and outdoor markets, and a remarkable 266% increase in sales volume. The company’s strategic partnerships with major brands like Arc’teryx have enhanced its market presence, with sales climbing to $2.3 million and a gross margin improvement to 44%. Despite this growth, ALUULA experienced a net loss, albeit a substantially reduced one compared to the same period last year.
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