EcoSynthetix Inc. (TSE:ECO) has released an update.
EcoSynthetix Inc. has reported a 49% decline in net sales in Q4 2023, with net sales at $2.8 million and an increased Adjusted EBITDA loss, amidst strategic advancements including the commissioning of a new manufacturing line and a Platinum designation from EcoVadis. Despite the downturn, the company remains optimistic about its diversified revenue base and the potential of its bio-based products, SurfLock™ and DuraBind™, to drive future growth. The firm also highlighted a strong balance sheet with $33.3 million in cash and term deposits and share buyback activities.
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