After the market close on November 14, NanoXplore (TSX: GRA) unveiled it’s much anticipated 5-Year strategic plan along with Q1/2023 results. Revenues increased from $17.8 million in Q1/2022 to $27.1 million in Q1/2023, a 52% increase. Supply chain challenges reduced total expected Q1 revenue and wage increases lowered margins. Despite a tough macro environment, President and CEO Soroush Nazarpour stated “we are satisfied with the performance of our business. Revenues from customers grew 52% and our gross margin continues to expand” year-over-year. The company has “significantly improved gross margins” based on “better graphene-enhanced products”.
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By Charles Marleau CIM® and William Mitchell CIM®
By Charles Marleau CIM® and William Mitchell CIM®