Ionik Achieves Strong Growth and Debt Reduction
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Ionik Achieves Strong Growth and Debt Reduction

PopReach Corporation (TSE:INIK) has released an update.

PopReach Corporation, operating as Ionik, has reported a significant first quarter in 2024, with a revenue increase of 30% year-over-year to $42.3 million, and an Adjusted EBITDA rise of 37% to $3.4 million. The company successfully reduced its senior debt by $2.8 million through operating cash flow and reported a robust gross profit increase of 28%. Despite these financial gains, Ionik experienced a net loss from continuing operations, but still improved its cash position to $8.4 million and managed its debt levels effectively.

For further insights into TSE:INIK stock, check out TipRanks’ Stock Analysis page.

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