PopReach Corporation (TSE:INIK) has released an update.
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PopReach Corporation, operating as Ionik, has reported a significant first quarter in 2024, with a revenue increase of 30% year-over-year to $42.3 million, and an Adjusted EBITDA rise of 37% to $3.4 million. The company successfully reduced its senior debt by $2.8 million through operating cash flow and reported a robust gross profit increase of 28%. Despite these financial gains, Ionik experienced a net loss from continuing operations, but still improved its cash position to $8.4 million and managed its debt levels effectively.
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