Neptune Wellness Reports Third Consecutive Quarter Of QoQ Revenue Growth, Unveils Action Plan

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) published its financial and operating results late Monday for the three months ended on September 30, revealing that it has generated $15.7 million in the second quarter of fiscal 2022, up by 27% sequentially.

Michael Cammarata, president and CEO of the Laval Quebec-based company, said that Neptune saw the "third consecutive quarter of revenue growth, primarily driven by strong demand for our flower products, continued expansion of our Sprout brand into North American and record sales for Biodroga."

Q2 2022 Financial Highlights

  • Gross profit loss of $1.8 million compared to gross profit loss of $4.7 million, an improvement of $2.9 million from the quarter ended September 30, 2020.
  • Negative gross margin of 9.5%, an 880 basis point improvement from a negative gross margin of 18.3% in the prior comparable period.
  • Net …

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