Summary by Moomoo AI
Novo Integrated Sciences reported financial results for the quarter ended November 30, 2023. Revenue increased by 14% year-over-year to $3.89 million, primarily due to a rise in product sales. Operating expenses rose by 32% to $5.26 million, largely due to common stock issuance for services and cashless warrant exercise. The company experienced a net loss of $4.66 million, a 19% increase from the previous year. The loss from operations was $3.32 million, compared to $2.24 million in the same period last year. Interest expense decreased by 14% to $143,374, while amortization of debt discount decreased by 28% to $1.08 million. The company's healthcare services segment saw a slight revenue increase of 1.2%, while product manufacturing and development revenue significantly contributed to the overall revenue growth. Novo Integrated Sciences continues to focus on...Show More