“This is an historic quarter for Earth Alive as we recorded the highest quarterly sales in company history,” said Mr.
Second Quarter 2023 financial highlights
- Sales for the second quarter stood at
$1,063,950 , an all-time high for the company, and an increase of$753,211 compared to the first quarter of 2022. - Mines-Infrastructure sales were up
$758,589 mainly due to ongoing sales with a mine in the US, the development of the market inQuébec and a new client inMorocco . - Agriculture sales were up 33% compared to Q2 2022 mainly due to good performances in South and
Central America . - The Company invested
$136,206 in R&D during the quarter compared to$98,289 in Q2 2022. During the quarter, we successfully validated our continuous-process mobile blending unit at industrial scale inNorthern Québec . The focus of our R&D is to reduce our cost of production and increase our portfolio of products. - As of
June 30, 2023 , Earth Alive had working capital of$7,648,969 confirming the strength of its balance sheet and its capacity to achieve its development plan. - Total net loss of
$814,106 compared to$953,802 in Q2 2022.
“Earth Alive’s journey started a while ago. Feedback from our clients is positive and our R&D efforts will continue to satisfy them,” concluded
Finally, the Company announces that Mr.
Earth Alive Consolidated Financial Statements and Management's Discussion and Analysis for the three-month period ended
About
Earth Alive is a soil health company and an industry leader in microbial technologies. Earth Alive’s innovative products contribute to regenerative agriculture, natural dust suppression with minimal water use and industrial cleaning that is ecological and human friendly. For additional information, please visit: www.earthalivect.com.
Forward-Looking Information: Certain information in this news release may be forward-looking information and forward-looking statements, which reflect the current view of management with respect to the Company's objectives, plans, goals, strategies, outlook, results of operations, financial and operating performance, prospects and opportunities. Wherever used, the words or expressions "growing", "continuing”, "months and years to come”, “will” and similar words or expressions identify forward-looking information and forward-looking statements. Forward-looking information and forward-looking statements should not be regarded as a guarantee of future events, performance or results, and will not necessarily be an accurate indication of whether, or the times at which, such events, performance or results will be achieved. All of the information in this news release containing forward-looking information or forward-looking statements is qualified by these cautionary statements. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and forward-looking statements and are cautioned not to place undue reliance on such information and statements. The Company does not undertake to update any such forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Neither the
For information, please contact:
438 333-1680; 514-462-1628
+352621395338
nsofronis@earthalivect.com
Source:
2023 GlobeNewswire, Inc., source