Cann Group Ltd. (AU:CAN) has released an update.
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Cann Group Limited reported a significant increase in net loss to $51.24 million for the year ended June 30, 2024, a 52% rise from the previous year, alongside a decrease in revenue by 12%. The company’s net tangible assets per share also plummeted from $0.15 to $0.03. The audited financial statements revealed a material uncertainty related to the company’s ability to continue as a going concern.
For further insights into AU:CAN stock, check out TipRanks’ Stock Analysis page.