Willow Biosciences Inc. (TSX: WLLW) (OTCQB: CANSF) has reported its financial and operating results for the third quarter ending September 30, 2023, showcasing record revenue and substantial progress in its business expansion.
Willow is a precision fermentation company that uses advanced science and technology to produce natural ingredients for the health and wellness, food and beverage and personal care markets, including cannabis.
Dr. Chris Savile, Willow's president & CEO, highlighted the successful implementation of the company's strategy to enhance sustainability and reduce operational expenses.
Key Third Quarter Financial Highlights
- Ended Q3 with approximately $4.0 million in cash and over $0.6 million in receivables.
- Reported Q3 revenue of $0.7 million and year-to-date total revenue of $1.1 million, marking a record for both the quarter and the year.
- Willow continued to transition to a more efficient company with a total …