Body and Mind Inc. operates in the healthcare sector, focusing on the cultivation, processing, distribution, and retail of cannabis across several U.S. states. The company shows a strong gross margin of 44.6%, indicating potential profitability, but faces significant concerns with negative EBITDA and net margins of -42.0% and -58.9%, respectively. Additionally, a low current ratio of 0.46 suggests liquidity challenges. While the gross margin is promising, the overall financial health score of 22/100 raises red flags about sustainability and operational efficiency.
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Company has $292K in cash but burned $1.0M last quarter. At this burn rate, only 0.3 quarters of runway remain without additional financing.
Revenue fell 54.2% year-over-year from $31.0M to $14.2M. The decline has persisted for multiple quarters.
Company posted a loss of $-14.1M over the last year, representing 99.4% of revenue.
Debt of $12.3M is 42.1x the company's cash position of $292K.
Gross margin expanded by 16.7 percentage points, indicating improved pricing power or cost efficiency.
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Based on 2024-Q2 (April 30, 2024)