Flow Beverage Corp. (TSE:FLOW) has released an update.
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Flow Beverage Corp. has reported a 5% increase in consolidated net revenue for Q3 2024, reaching $13.8 million, alongside a notable improvement in gross margins to 34% compared to just 3% in the same quarter last year. Despite a 15% decrease in Flow brand net revenue, the company has lowered its Adjusted EBITDA loss to $1.9 million from $10.7 million in Q3 2023, indicating effective restructuring and operational optimization efforts. They expect to achieve positive Adjusted EBITDA by Q4 2024.
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