PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTC: PLTXF), the digital face of the plant-based community operating a one-stop shop for plant-based products, is reporting its audited consolidated financial results for the fiscal year ended March 31, 2023. Thanks to the company’s sharpened focus on profitable growth, the report shows double digit growth in revenue and gross margins. Specifically, highlights of the report include an 11% increase in revenue, with 2023 numbers totaling C$13,299,891 compared to C$11,984,809 in 2022; an increase in gross margin of 30.4%, with total gross margin reaching C$5,088,767 compared to C$3,903,314 in 2022, and an improvement in net loss, which came in at C$21,384,656 compared to C$54,802,666 in 2022. The report noted that this fiscal year, the company focused on nurturing its high-growth business units and also made key adjustments to business efforts that did not meet stringent growth and margin thresholds. “Fiscal 2023 was a tremendous year for PlantX,” said PlantX Life CEO Lorne Rapkin in the press release. “We sharpened our focus on driving profitable growth, and this focused approach yielded strong financial performance and positions us for continued success in the years ahead. As we forge ahead, profitability remains a central focus, driving growth, expansion, and success across our diverse business units. We are committed to delivering exceptional experiences within the plant-based industry while continually striving for improvement.”
To view the full press release, visit https://ibn.fm/YYQYr
About PlantX Life Inc.
PlantX is committed to being the digital face of the plant-based community as well as the one-stop shop for plant-based products. With its fast-growing category verticals, the company offers customers across North America more than 5,000 plant-based products. PlantX also has other brands in the PlantX portfolio, including a juice brand, a coffee company, a plant shop and brick-and-mortar grocery stores. PlantX uses its digital platform to build a community of like-minded consumers and, most importantly, to provide education. PlantX’s digital presence eliminates entry barriers for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life. For more information about this company, please visit www.PlantX.com and www.PlantX.ca.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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