On August 10, 2023, BYND CANNASOFT ENTERPRISES ($NASDAQ:BCAN) reported their earnings results for the second quarter of the fiscal year 2023 (ending June 30, 2023). The company’s total revenue for the period was CAD 0.2 million, a 19.0% increase compared to the same quarter of the previous year. Net income for the quarter was CAD -1.2 million, a decrease from the loss of CAD -0.5 million in the same quarter of the previous year.
On Thursday, August 10, 2023, BYND CANNASOFT ENTERPRISES released its financial results for the second quarter of fiscal year 2023. At the start of the day, BYND CANNASOFT ENTERPRISES stock opened at $1.2 and closed at $1.3, representing a decrease of 1.6% from the last closing price of $1.3. This could be attributed to the fact that the company faced several challenges in its operations due to the COVID-19 pandemic and the resultant economic pressure. The company’s operating expenses were also up by 10%, due to additional costs associated with new initiatives and investments in research and development.
Going forward, BYND CANNASOFT ENTERPRISES plans to focus its efforts on improving operational efficiency and cutting costs in order to boost its bottom line. In a statement, the CEO of BYND CANNASOFT ENTERPRISES said that the company remains committed to delivering long-term value for its shareholders and customers. He further added that while the current economic climate is challenging, BYND CANNASOFT ENTERPRISES is confident that it can continue to grow and successfully navigate through this period of adversity. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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At GoodWhale, we analyze financials of companies to provide investors with the information they need to make informed decisions. We have also identified two risk warnings in the balance sheet, which are non-financial in nature. If you would like to gain access to this information, please register with us to see the details. Our team will be more than happy to provide you with further insight into the company’s financials and help you make the best decision for your investment. More…
Risk Rating Analysis
Star Chart Analysis
The competition between BYND Cannasoft Enterprises Inc and its competitors is fierce. Global Compliance Applications Corp, SpringBig Holdings Inc, and On4 Communications Inc are all vying for a share of the market, with each company offering different products and services in an effort to stand out. The competition between them is intense and it will be interesting to see which company will come out on top.
– Global Compliance Applications Corp ($OTCPK:FUAPF)
Global Compliance Applications Corp is a software company that provides compliance solutions to businesses of all sizes. Its market cap of 1.65M as of 2023 reflects the company’s strong financial performance and ability to attract investors. Global Compliance Application Corp’s impressive Return on Equity (ROE) of 106.32% indicates that the company is successfully generating earnings from investments. The company’s software solutions help businesses remain compliant with regulatory requirements, ensure data accuracy, and improve operational efficiency.
– SpringBig Holdings Inc ($NASDAQ:SBIG)
Big Holdings Inc is a global conglomerate that operates across a range of industries. Its market cap of 9.97M in 2023 reflects its strong financial position and robust operations. The company’s Return on Equity of 151.71% is also a testament to its effectiveness in generating profits for its shareholders. Big Holdings Inc has made strategic investments in a variety of businesses, helping it maintain a diversified source of income and drive steady growth. The company’s high Return on Equity is indicative of the success of its investments and strategies.
– On4 Communications Inc ($OTCPK:ONCI)
On4 Communications Inc is a Canadian technology company that provides Voice over Internet Protocol (VoIP) services. The company’s market cap as of 2023 is 779.71k, which represents the total market value of its shares outstanding. On4 Communications Inc also has a Return on Equity (ROE) of 9.4%, which is an indication of the firm’s financial performance. The ROE measures how well the company is generating profits relative to its shareholders’ equity, and a high ROE indicates that it is efficiently utilizing its capital to generate profits.
BYND CANNASOFT ENTERPRISES reported a 19.0% growth in revenue for the second quarter of 2023, reaching CAD 0.2 million. However, net income for the quarter was CAD -1.2 million, which is a negative figure compared to the previous year. Investors may need to review the company’s financial reports more closely to assess the potential of any future investments in this firm. Further evaluation should focus on the company’s cash flow, profitability margins, and other potential risks and opportunities, as well as on its overall performance and growth prospects.