The Healing Company (OTCMKTS:HLCO) Stock In Focus After Q3 Update
On Wednesday The Healing Company (OTCMKTS:HLCO) was in the news after it came up with a business update and also announced its financial results for the third fiscal quarter which ended on March 31, 2023.
Trading Data
On Wednesday, HLCO stock ended flat at $5.50 with 88 shares, compared to its average volume 0 shares. The stock moved within a range of $5.50 – 5.50 after opening trade at $5.50.
The Healing Company Reports Record Revenue and Provides Business Update for the Fiscal Third Quarter of 2023
The Chief Executive Officer and co-founder of the company Simon Belsham noted that the company had made fast progress in its strategy to turn into a leading global provider of integrated healing products. He went on to note that in the third fiscal quarter, it had generated record revenues of as much as $3.2 million and the reflected a sequential rise of as much as 34%. Additionally, the company also managed to generate positive adjusted EBITDA in each of its business segments, when excluding one-time non-recurring expenses.
The company had also been successful in reducing the degree of its customer acquisition costs and Belsham noted that it was something that placed The Healing Company on the path to long term profitability and sustainability. Another aspect of the business that had been a highlight for quite a while was the fact that The Healing Company managed to execute a buy and build strategy that proved to be successful.
