Canopy Holdings AS – Financial results for the fourth quarter FY 2022/2023
(Oslo, 22 June 2023) Canopy Holdings AS (Canopy Holdings, Euronext Growth Oslo:CAN) reported revenues of NOK 26.7 million in the financial fourth quarter of financial year 2022/23, ending 30 April 2023. The company reported revenues of NOK 82.4 million in the financial year 2022/23 ending 30 April 2023. This compares to NOK 72.9 million in the corresponding period last financial year representing a year-over-year growth of 13%. The company reported a cash position of NOK 8.6 million as per 30 April 2023. In May 2023, and following the end of the fourth financial quarter, the company completed a directed equity issue and a subsequent offering which combined increased the company’s cash position by approx. NOK 40 million. The company had EUR 7.0 million in annual recurring revenues and 230 resort customers as per end of April 2023.
"We continued to grow our revenues in the financial year 2022/23 with year-over-year growth of 13% to NOK 82.4 million. We have signed several key partnerships during the quarter that we expect to significantly contribute to top line growth going forward. We are also continuing to execute on efficiency initiatives that will enable us to reach our goal of operational profitability during this upcoming financial year" says Christian Erlandson, CEO of Canopy Holdings.
The company reported revenues of NOK 26.7 million in the quarter ending 30 April 2022/23 (NOK 28.4 million) with an EBITDA of NOK -7.2 million. Although the company reported a negative EBITDA in the quarter, it was a significant improvement compared to the EBITDA of NOK -14.4m in the corresponding period last financial year, further underpinning the company’s focus on optimizing the cost base.
The company has changed reporting currency from NOK to USD, effective 1 May 2023, in order to limit exposure to foreign exchange fluctuations in the financial reporting.
Canopy Holdings will today host a company presentation at 10:00 CET.
Event: Presentation of Canopy Holdings fourth quarter FY 2022/2023 financial results, 1 February 2023 to 30 April 2023
Time: 10:00 – 10:30 CET
Presenters: Christian Erlandson, CEO and James Price, CFO
Streaming details:
https://channel.royalcast.com/landingpage/hegnarmedia/20230622_1/
The presentation will be held in English and will be followed by a Q&A session.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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About Canopy Holdings AS
Canopy Holdings AS is a multi-national technology company listed on Euronext Growth Oslo. The company owns a leading portfolio of brands and companies that provides digitalization solutions to ski resorts, destinations, parks and attractions in key markets. Canopy Holdings AS currently consists of Catalate, Liftopia.com, Skitude and Spotlio.
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