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PharmaCielo Q2 Revenue Soars 375% YoY, Raises Additional $4.6M In Oversubscribed Debenture Financing

Benzinga Real-time News ·  Aug 31, 2022 08:38

PharmaCielo Ltd.(OTCQX:PCLOF) (TSXV:PCLO) Q2 2022revenue was CA$2.1 million, a 375% increasecompared to CA$446,000 in Q2 2021.

Q2 2022 Financial Highlights

  • Net loss was CA$3.5 millioncompared to net loss of CA$7.2 million in Q2 2021.

  • Adjusted EBITDAwas a loss of CA$2.1 millioncompared to a loss of CA$4.5 million in Q2 2021.

  • Cash equivalents of CA$1 millionat June 30, 2022, compared to CA$5.3 million at December 31, 2021.

  • Gross profit was CA$834,814compared to a loss of CA$807,700 in Q2 2021.

Bill Petron, chairman and CEO of PharmaCielo stated, "The team has made substantial progress in the first six months of the year. We continue to build the revenue...

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