Village Farms International, Inc. (NASDAQ: VFF) released its financial results for the first quarter ended March 31, 2023, revealing sales decreased 8% year-over-year to $64.7 million from $70.2 million.
Q1 2023 Financial Highlights
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Gross margin was $12.3 million compared to $9.9 million in Q1 2022.
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Net loss was ($6.6 million), or ($0.06) per share, compared with ($6.5 million), or ($0.07) per share in Q1 2022.
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Adjusted EBITDA, improved to $519,000 from negative $6.1 million in Q1 2022.
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The Pure Sunfarms revolving and non-revolving credit facilities were extended to a …