Emerge Commerce Ltd (TSE:ECOM) has released an update.
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EMERGE Commerce Ltd. reported a drop in annual revenue to $23.8M in 2023 from $27.6M in 2022, but saw improvements with a 50% gross margin and a slight increase in Adjusted EBITDA to $1.14M. The company nearly doubled its cash flow from operations to $2.0M and reduced its senior credit facility from $25M to $5.85M, signaling strong debt management and operational focus. Despite a net loss of $21.3M, largely due to a one-time goodwill impairment charge, EMERGE is optimistic about driving organic growth with streamlined operations in 2024.
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